The price of Brent crude oil decreased during trading operations on the ICE London Intercontinental Exchange, with May 2026 contracts falling by 0.29% to settle at $111.86 per barrel.
According to the Operative Information Center-OMM, similar trends were observed on the New York Mercantile Exchange (NYMEX). The price for April 2026 delivery of WTI (West Texas Intermediate) crude fell by 0.05%, reaching $98.18 per barrel.
Fluctuations in global oil prices are often driven by a combination of geopolitical factors, changes in production quotas by major oil-exporting nations, and shifts in global demand forecasts. As a significant energy producer in the region, Azerbaijan closely monitors these market trends, as oil and gas exports remain a cornerstone of the national economy and contribute substantially to the state budget and development projects in the liberated territories of Garabagh and East Zangazur.
