BAKU, Azerbaijan, June 4. Oil prices have dropped this week, Trend reports.
The average price of Azeri LT CIF Augusta crude oil, which is produced at the Azeri-Chirag-Gunashli block of Azerbaijani fields, fell by $2.75 (3.47 percent) this week compared to last week's figure and amounted to $76.52 per barrel. The maximum price for it during the reporting period was $78.14 per barrel, the minimum – $75.05.
This week, the average price of Azeri Light oil based on FOB in the Turkish port of Ceyhan was $74.8 per barrel, which is $2.55 (3.3 percent) less in comparison with last week. The maximum price for it was $76.49 per barrel, the minimum – $73.32.
Meanwhile, Azerbaijan also sells its URALS oil from the Russian Black Sea port of Novorossiysk, delivering it through the Baku-Novorossiysk pipeline. The average price of URALS crude oil fell by $1.8 (3.46 percent) compared to last week and amounted to $50.13 per barrel. The maximum price for URALS was $51.81 per barrel, while the minimum was $48.79.
The average price for Brent Dated oil fell by 2.7 percent (or $2.06) to $74.40 per barrel this week. The maximum price for Brent was $76.06 per barrel, the minimum – $72.89 per barrel.
|
Oil/date |
May 30, 2023 |
May 31, 2023 |
June 1, 2023 |
June 2, 2023 |
Average price |
|
Azeri LT CIF |
$76.27 |
$75.05 |
$76.63 |
$78.14 |
$76.52 |
|
Azeri Light FOB Ceyhan |
$74.49
|
$73.32 |
$74.92 |
$76.49 |
$74.80 |
|
Urals (EX NOVO) |
$49.52 |
$48.79 |
$50.39 |
$51.81 |
$50.13 |
|
Brent Dated |
$73.98 |
$72.89 |
$74.61 |
$76.06 |
$74.40 |
(1 USD = 1.7 AZN on June 4 2023)