Azeri Light oil price falls below $106 per barrel

The price of Azerbaijan’s flagship “Azeri Light” crude oil declined sharply on international markets, reflecting the broader downward trend in global energy prices, AzerNEWS reports.

The price of Azeri Light crude delivered on a CIF basis to Italy’s Augusta port fell by $3.44, or 3.16%, compared to the previous session, reaching $105.55 per barrel.

Meanwhile, the price of Azeri Light crude traded on an FOB basis at Türkiye’s Ceyhan port also decreased by $3.42, or 3.23%, settling at $102.49 per barrel.

The report noted that the price of Russia’s URALS crude dropped by $3.2, or 3.79%, to $81.21 per barrel.

At the same time, the price of a barrel of Dated Brent crude produced in the North Sea declined by $3.6, or 3.45%, to $100.59 per barrel.

Despite fluctuations in global oil markets, Azerbaijan’s 2026 state budget was calculated based on an average oil price of $65 per barrel, indicating a relatively cautious fiscal approach amid continuing volatility in energy markets.