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Crude price on world markets

18 March 2016 12:05 (UTC+04:00)
Crude price on world markets

The price of oil continues to rise in the world markets.

On the New York Stock Exchange NYMEX (New York Mercantile Exchange), the cost of the US Light crude oil increased $1.36 to stand at $40.24.

Price of the Brent crude oil at the London ICE (InterContinental Exchange Futures) rose $1.13 to trade at $41.63.

The price for AZERI LT CIF oil, produced at the Azeri-Chirag-Guneshli block of oil and gas fields, was $42.63 per barrel at the Italian port of Augusta on March 17, or $1.53 more compared to the price on March 16, a source on Azerbaijan’s oil and gas market told Trend March 18.

AZERI Light FOB Ceyhan oil price was $41.8 per barrel on March 17, or $1.5 more than the previous price.

Azerbaijan has been producing AZERI LT since 1997 and exports it via Baku-Tbilisi-Ceyhan and Baku-Supsa pipelines, as well as by rail to the Georgian port of Batumi.

Azerbaijan also exports URALS oil from Russia’s Black Sea port of Novorossiysk. The oil is delivered there via the Baku-Novorossiysk pipeline.

The price for URALS-NOVO was $37.85 per barrel on March 17, or $1.53 more than the previous price.

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