The Azerbaijan State News Agency

ECONOMY

Oil prices slip after bouncing above $104

Baku, February 16 (AZERTAC). Oil prices ended lower Tuesday after trading up most of the session, with the London-New York price gap narrowing slightly. The main WTI contract for March delivery at the New York Mercantile Exchange lost 49 cents to $84.32 after trading up to nearly $86 during the day. In London North Sea Brent for March delivery surged past $104 - the highest since September 26, 2008 - before pulling back to end down $1.44 at $101.64.

Prices had been pressed upward by the spread of anti-government protests to the oil-rich Middle East, following the popular overthrow of Egyptian president Hosni Mubarak last week.

Higher output by OPEC had also undercut the upward pressure.

Traders will be looking this week to the level of US oil and oil products stocks, which have accumulated steadily for several weeks.

The Azerbaijani oil Azeri Light was sold for 105.06 USD.

Share news on social media

Follow us on social network

Other news in this section

Oil prices fall in world markets
  • 29.08.2023 [10:41]

Oil prices fall in world markets

Azerbaijani oil price sells for $88.56
  • 29.08.2023 [10:34]

Azerbaijani oil price sells for $88.56

Shah Deniz celebrates 200 billion cubic metres of total gas production
  • 28.08.2023 [16:41]

Shah Deniz celebrates 200 billion cubic metres of total gas production

Oil prices rise in world markets
  • 28.08.2023 [10:49]

Oil prices rise in world markets

Azerbaijani oil price exceeds $88
  • 26.08.2023 [10:53]

Azerbaijani oil price exceeds $88

Oil prices rise in world markets
  • 26.08.2023 [10:36]

Oil prices rise in world markets

Azerbaijani oil price drops in world markets
  • 25.08.2023 [11:00]

Azerbaijani oil price drops in world markets

Oil prices rise in world markets
  • 25.08.2023 [10:21]

Oil prices rise in world markets

Oil prices fall in world markets
  • 24.08.2023 [10:57]

Oil prices fall in world markets

Azerbaijan’s Ministry of Science and Education and OpenAI expand cooperation on AI in education

  • [13:36]

President Ilham Aliyev received newly appointed ambassador of Sweden to Azerbaijan

  • [13:10]

Azerbaijan joins 9th World Forum on Energy Regulation in Tbilisi

  • [13:05]

Mozambican President invites Brazilian companies to invest in gas sector

  • [13:00]

Azerbaijan, Czech Republic exchange views on organizing next meeting of Joint Commission

  • [12:39]

President Ilham Aliyev signs order pardoning sentenced persons

  • [12:35]

® Azerbazalt and Isometric launch South Caucasus’ first international carbon certification project based on ERW

  • [12:22]

Azerbaijan`s Deputy Foreign Minister participates in number of events on second day of UN High-Level Week

  • [12:18]

Formula 1 Azerbaijan Grand Prix to be broadcast live on 56 TV channels

  • [12:17]

Azerbaijani FM attends reception hosted by U.S. President

  • [12:11]

Expansion of Azerbaijani gas supplies to Bulgaria discussed

  • [12:06]

Top stories update

  • [12:00]

President Ilham Aliyev received newly appointed ambassador of Estonia to Azerbaijan VIDEO

  • [11:55]

Death toll from Typhoon Dujuan in eastern Japan climbs to 9

  • [11:54]

State Program for development of mining and metallurgy industry for 2027–2030 approved – ORDER

  • [11:51]

Azerbaijan, Pakistan review strategic partnership

  • [11:23]

Gold prices fall, while silver rises on global markets

  • [11:18]

Azerbaijani, Ukrainian FMs exchange views on geopolitical developments

  • [11:17]

To His Majesty Salman bin Abdulaziz Al Saud, Custodian of the Two Holy Mosques, King of Saudi Arabia

  • [11:10]

Azerbaijan, Singapore explore prospects for expanding bilateral cooperation

  • [11:05]

Foreign Ministries of Azerbaijan and Czech Republic hold political consultations in Baku

  • [10:55]

Azerbaijan, Bangladesh sign visa exemption agreement

  • [10:46]

Azerbaijan and Colombia sign agreement on mutual visa exemption

  • [10:45]

Azerbaijani FM meets with President of 81st session of UNGA

  • [10:38]

Azerbaijani Foreign Minister exchanges views with Hungarian counterpart on prospects for bilateral cooperation

  • [10:33]

Azerbaijani and Iranian FMs discuss regional developments

  • [10:29]

Azeri Light sells for $118

  • [10:23]

Oil prices decline in global markets

  • [10:22]

US gains expanded military access, new defense areas in Greenland with Arctic deal

  • [10:18]

Success of fallen hero's son in US: Oruj Ibrahimov granted US EB-1 “Einstein Visa”

  • [10:16]

Deputy Foreign Minister Yalchin Rafiyev attends several events on sidelines of 81st Session of UN General Assembly

  • 22.09.2026 [22:25]

FM Bayramov reaffirms Azerbaijan’s commitment to peaceful resolution of Jammu-Kashmir issue

  • 22.09.2026 [22:15]

Two more Azerbaijani veteran judokas win golds at Sarajevo World Judo Championships Veterans 2026

  • 22.09.2026 [22:11]

Azerbaijan, Switzerland explore cooperation

  • 22.09.2026 [22:01]

Azerbaijani, Djiboutian Foreign Ministers hold talks in New York

  • 22.09.2026 [21:46]

Recep Tayyip Erdoğan: Organization of Turkic States is growing stronger with each passing year

  • 22.09.2026 [21:14]

Iranian Airlines suspend flights to Azerbaijan

  • 22.09.2026 [20:53]

Recep Tayyip Erdoğan: We hope lasting peace will be established between Azerbaijan and Armenia

  • 22.09.2026 [20:43]

US, Denmark, Greenland sign Arctic security agreement at UN General Assembly

  • 22.09.2026 [20:30]

UN Secretary-General: The continued absence of permanent African representation is “unjust and indefensible”

  • 22.09.2026 [20:11]

Top stories update

  • 22.09.2026 [20:00]

Azerbaijan, Georgia discuss regional cooperation

  • 22.09.2026 [19:58]

Donald Trump: The President of Azerbaijan said Trump did a miracle

  • 22.09.2026 [19:49]

Azerbaijani FM attends opening of 81st session of UN General Assembly

  • 22.09.2026 [19:36]

France mulls new UN Security Council resolution on Hormuz, diplomats say

  • 22.09.2026 [19:33]

Azerbaijan’s Foreign Ministry: We do not recognize so-called “presidential elections” held in Tskhinvali region of Georgia

  • 22.09.2026 [19:31]

Afghan cyclist who disguised herself as a man wins Asian Games silver

  • 22.09.2026 [19:30]

Azerbaijan steps up efforts to implement “ASAN Khidmet" model in Cambodia

  • 22.09.2026 [19:26]

Azerbaijan, Malaysia explore financial reporting practices

  • 22.09.2026 [19:19]

NOC Secretary General: Diverse sporting strengths of Azerbaijan and Greece create excellent opportunities for cooperation

  • 22.09.2026 [19:18]

“Power of Unity – 2026” Joint Military Exercise commences

  • 22.09.2026 [19:03]

Georgian FM: Georgia’s expanding geopolitical role is opening new opportunities

  • 22.09.2026 [18:58]

Press conference dedicated to ADEX 2026 and Securex Caspian exhibitions held

  • 22.09.2026 [18:58]

ADEX 2026 to bring together world’s defense industry giants on a record-breaking scale

  • 22.09.2026 [18:39]

ITF Secretary-General: Azerbaijan is leading discussions on the Middle Corridor

  • 22.09.2026 [18:20]

Chief of General Staff of Azerbaijan Army meets with Turkish delegation

  • 22.09.2026 [18:15]

Azerbaijan and Germany consider expanding energy cooperation

  • 22.09.2026 [18:06]

Azerbaijan`s Minister of Economy: Production and extraction of copper, gold and silver to be increased

  • 22.09.2026 [17:43]

European natural gas prices fall to three-week low

  • 22.09.2026 [17:39]

Real Madrid issue shocking statement regarding Valverde's injury

  • 22.09.2026 [17:35]

UN panel calls for stronger safeguards as AI agents advance

  • 22.09.2026 [17:28]

UN General Debate set to open in New York under 'restoring trust' theme

  • 22.09.2026 [17:27]

LUNAR Festival draws more than 85,000 visitors in Sofia

  • 22.09.2026 [17:12]

Trump, Greenland, Denmark to sign deal in bid to end Arctic standoff

  • 22.09.2026 [17:03]

Ensuring children's digital safety discussed

  • 22.09.2026 [17:00]

North Korea reports new missile test designed to give enemy 'incurable headache'

  • 22.09.2026 [16:47]

Minister of Economy: Azerbaijan will continue studies of Zaylik alunite deposits

  • 22.09.2026 [16:46]

Azerbaijan’s Deputy Prime Minister highlights importance of Middle Corridor as key transport link between East and West

  • 22.09.2026 [16:45]

NASA discovery reveals complex water systems on early Mars

  • 22.09.2026 [16:17]

Uzbek President reviews presentation on progress of major transport and logistics projects

  • 22.09.2026 [16:17]

Azerbaijan’s crude oil exports to Tunisia increase 2.6-fold in January-August - GRAPH

  • 22.09.2026 [15:55]

4th Baku Security Forum kicks off in Baku

  • 22.09.2026 [15:25]

Türkiye, US agency sign grant agreement on next-generation nuclear technologies

  • 22.09.2026 [15:11]

Nissan to launch hybrid SUV in U.S.

  • 22.09.2026 [14:39]

Azerbaijani President: A complete chain of the mining industry—all the way to the final product—must be created

  • 22.09.2026 [14:01]

President Ilham Aliyev touches upon factors impeding development of mining industry in Azerbaijan

  • 22.09.2026 [13:58]

President: Today we have substantial reserve generating capacities

  • 22.09.2026 [13:55]

President Ilham Aliyev: The new program reflects our agenda on the socio-economic development of regions

  • 22.09.2026 [13:52]

President Ilham Aliyev chaired meeting on State Program for development of mining and metallurgical industry VIDEO

  • 22.09.2026 [13:50]

24 more families relocated to Shukurbeyli village receive house keys

  • 22.09.2026 [13:43]

Coastal cleanup campaign held in Bilgah at Leyla Aliyeva’s initiative

  • 22.09.2026 [13:32]

Address by President Ilham Aliyev read out at Yury Luzhkov’s memorial evening in Moscow

  • 22.09.2026 [13:16]

5 million Sudanese return home to broken places, IOM warns

  • 22.09.2026 [13:02]

To the participants of the 4th Baku Security Forum

  • 22.09.2026 [12:31]

French Alpine drivers set expectations ahead of high-stakes Azerbaijan Grand Prix

  • 22.09.2026 [12:25]

Top stories update

  • 22.09.2026 [12:00]

® Submit your tax reporting free for 6 Months with SİMA İmza!

  • 22.09.2026 [11:51]

Colombian ambassador visits ASAN Khidmet Center in Baku

  • 22.09.2026 [11:19]

Another group of residents relocated to Khankendi, Khojaly, Aghdara and Jabrayil

  • 22.09.2026 [11:16]

Gold and silver prices fall on global markets

  • 22.09.2026 [11:13]

Turkish president calls for UN Security Council reform, end to veto privilege

  • 22.09.2026 [11:11]

High-level meeting on Trans-Caspian International Transport Route kicks off in Beijing

  • 22.09.2026 [11:03]

Oil prices climb on global markets

  • 22.09.2026 [10:53]

Western Azerbaijan Community sets up working group to study Albanian heritage in present-day Armenia

  • 22.09.2026 [10:52]

Azerbaijani oil sells for $116.83

  • 22.09.2026 [10:17]

F1 reduces maximum distance of races by 15km

  • 22.09.2026 [10:01]

Gulustan Palace hosts event marking 32nd anniversary of Contract of the Century and Oil Workers’ Day

  • 21.09.2026 [22:39]

Azerbaijani judokas clinch 3 more medals at 2026 World Veterans Championships in Sarajevo

  • 21.09.2026 [22:25]

German Chancellor Merz calls election result ‘a severe blow’ but rules out stepping down

  • 21.09.2026 [22:19]

Chinese expert: There is significant room for cooperation between Azerbaijan and China in green energy - COMMENTARY

  • 21.09.2026 [22:14]