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Brent Oil Falls Below $90 After Hitting $119 Day Earlier
(MENAFN- AzerNews)
Qabil Ashirov
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The price of Brent crude oil futures for May 2026 delivery on London's Intercontinental Exchange (ICE) fell below $90 a day after reaching $119.
AzerNEWS reports that as of 01:47, the price of Brent crude decreased by 3.42 percent to $89.52 per barrel.
As of 01:59, Brent crude was trading at $89.70 per barrel, down 3.23 percent.
Meanwhile, the price of Azerbaijan's Azeri Light crude on a CIF basis at Italy's Augusta Port rose by $8.41, or 8.9 percent, compared to the previous figure, reaching $103.03 per barrel.
The price of Azeri Light crude on a FOB basis at Türkiye's Ceyhan Port increased by $8.6, or 9.5 percent, to $99.10 per barrel.
The price of Urals crude oil rose by $8.23, or 14.1 percent, compared to the previous figure, reaching $66.77 per barrel.
The average price of oil in Azerbaijan's 2026 state budget is set at $65 per barrel.
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