Azeri Light gains nearly 2% amid global oil price increase

The price of Azerbaijan’s Azeri Light crude rose at Italy’s Port of Augusta, increasing by $1.32, or 1.85 percent, compared to the previous session to reach $72.78 per barrel on a CIF basis, AzerNEWS reports.

A source in the oil market told Trend that at Türkiye’s Port of Ceyhan, the price of Azeri Light on an FOB basis climbed by $1.20, or 1.74 percent, to $70.13 per barrel.

Meanwhile, the price of Russia’s Urals oil increased by $0.33, or 0.87 percent, to $38.31 per barrel.

The benchmark Dated Brent, produced in the North Sea, also posted gains, rising by $1.25, or 1.77 percent, to $72.04 per barrel.

Under Azerbaijan’s 2026 state budget projections, the average oil price is set at $65 per barrel.