Brent Oil Falls Below $90 After Hitting $119 Day Earlier

RunWithRugs · 2026-03-10T07:06:24+00:00

Brent crude oil prices fell to $89.52 per barrel after peaking at $119, while Azerbaijan's Azeri Light crude rose by approximately 9% to $103.03. The average price set in Azerbaijan's 2026 budget is $65 per barrel.

RunWithRugs

2026-03-10 07:06:24

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(MENAFN- AzerNews) Qabil Ashirov Read more

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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