Azerbaijan’s Azeri Light oil prices increase in global markets

The price of Azerbaijan’s Azeri Light crude oil at Italy’s Augusta port increased on a CIF basis, rising by $0.46, or 0.63 percent, compared with the previous level, to $73.35 per barrel, according to sources in the oil market, Azernews reports.

Meanwhile, at Türkiye’s Ceyhan port, the price of Azeri Light on an FOB basis also posted gains. A barrel of Azeri Light rose by $0.43, or 0.61 percent, to reach $70.74.

In parallel, the price of Urals crude oil climbed by $0.46, or 1.10 percent, compared with the previous trading session, reaching $42.10 per barrel.

The price of Dated Brent crude, produced in the North Sea, also moved higher. It increased by $0.35, or 0.48 percent, to $72.71 per barrel.

It is worth noting that Azerbaijan’s 2026 state budget is based on an assumed average oil price of $65 per barrel, meaning current market prices remain comfortably above the budget benchmark.