ECONOMY

NEWS

G7 countries will not yet release strategic oil reserves

— ECONOMY, NEWS FEED
G7 countries are not yet ready to release strategic oil reserves. “Elchi” reports, citing AFP, that French Finance Minister Roland Lescure stated this to journalists after talks with his counterparts regarding the situation in the Middle East. “We are not ready yet, but we have agreed to use any necessary tools, including the potential release […]
NEWS

G7 countries to discuss release of strategic oil reserves to market

— ECONOMY
The finance ministers of the Group of Seven (G-7) countries will hold an urgent meeting to discuss tensions in global energy markets. “Elchi” reports that the Financial Times newspaper published this information, citing high-ranking sources from the G-7. According to the information, the meeting will be held at 16:30 Baku time. The Executive Director of […]
NEWS

Gold and other precious metals have fallen in price in world markets

— ECONOMY
A decrease in the price of gold and other precious metals has been recorded in world markets. According to news provided by “Elchi”, citing market data, the price of gold’s April futures on the COMEX exchange decreased by 0.91% to 5,111.90 US dollars. Meanwhile, in the spot market, the price of gold decreased by 1.12% […]
NEWS

Oil price surged, approaching 119 dollars

— ECONOMY
The price of oil in the global energy market continued to rise sharply. “Elchi” reports that on the New York Mercantile Exchange (NYMEX), the price of April futures for WTI crude oil increased by 27.26% to 115.68 US dollars. The price of May futures for Brent crude oil, however, rose by 28% to 118.73 dollars […]
NEWS

Gold and silver prices rose in commodity markets

— ECONOMY
The price of gold futures per troy ounce (31.1 grams) has increased in commodity markets. “Elchi” reports, citing exchange data, that on New York’s COMEX commodity exchange, the price of April 2026 gold futures per troy ounce increased by 1.58% to 5,158.7 US dollars. On COMEX, the price of May 2026 silver futures per ounce […]
NEWS

Natural Gas Prices Rise Over 6% on New York Exchange

— ECONOMY
The price of natural gas futures quotes has increased on the New York “NYMEX” commodity exchange. “Elchi” reports that the price of natural gas futures for delivery in April 2026 increased by 6.09% to 3.186 US dollars per 1 million BTU (British thermal unit).
NEWS

The price of Brent oil exceeded 93 dollars in world markets

— ECONOMY
During trading operations on the ICE London intercontinental exchange, the value of the May 2026 contract for the export of Brent oil increased by 8.93%, reaching 93.44 US dollars per barrel. According to “Elchi”, on the New York “NYMEX” commodity exchange, the price of 1 barrel of WTI crude oil for export in April 2026 […]
NEWS

Electricity outage in several areas of Bilasuvar

— ECONOMY
Today, there will be an interruption in electricity supply in several areas of Bilasuvar. According to information provided by “Azerishig” to “Elchi”, on March 7, repair and tree pruning works will be carried out on the 10 kV No. 11 overhead line originating from the 110/35/10 kV “Bilasuvar” substation in the area of Bilasuvar Electric […]
NEWS

“Azeri Light” oil price nears $95

— ECONOMY
The price of Azerbaijani “Azeri Light” (CIF) crude oil has increased in world markets. “Elchi” reports that the price of 1 barrel of Azerbaijani oil increased by 6.72 US dollars or 7.65%, reaching 94.62 US dollars. It should be noted that the previous price of Azerbaijani oil was 87.9 US dollars. It should be recalled […]
NEWS

Azerbaijan to explore investment opportunities with Moldova in promising areas

— ECONOMY, NEWS FEED
Azerbaijan has discussed with Moldova the exploration of investment opportunities and the development of cooperation in agriculture, energy, ICT, and other promising areas. “Elchi” reports that discussions on this matter took place during a meeting held by First Deputy Minister of Economy Elnur Aliyev with Deputy Prime Minister and Minister of Foreign Affairs of the […]