Azerbaijan’s Azeri Light Crude Rises Amid Global Oil Price Surge

The price of Azerbaijan’s Azeri Light crude oil rose in international markets this week, reflecting broader upward trends in global energy prices.

At Italy’s Port of Augusta, the price of Azeri Light under CIF (Cost, Insurance, and Freight) terms increased by $0.53, or 0.7 per cent, reaching $76.02 per barrel, The Caspian Post reports via local media.

In Türkiye’s Port of Ceyhan, the FOB (Free on Board) price of Azeri Light also rose by $0.53, or 0.72 per cent, to $74.83 per barrel.

The upward momentum was not limited to Azeri crude. Russia’s Urals crude recorded a $0.54 (0.91 per cent) increase, trading at $59.87 per barrel, while Dated Brent, extracted from the North Sea, climbed $0.49, or 0.68 per cent, to settle at $72.54 per barrel.

Azerbaijan’s 2025 state budget is based on an average oil price of $70 per barrel, placing current prices for Azeri Light comfortably above the fiscal benchmark.