The price of Azerbaijan’s flagship Azeri Light crude has increased on the global market, reaching $98.58 per barrel.

The price gained $0.39, or 0.39%, compared with the previous level, APA Economics reports.

Meanwhile, the price of Azeri Light crude on an FOB basis at Türkiye’s Ceyhan port rose by $0.74, or 0.78%, to $94.86 per barrel.

The increase comes as oil prices remain closely watched by energy markets, with fluctuations influenced by global supply, demand and geopolitical developments.

Azerbaijan’s 2026 state budget is based on an oil price assumption of $65 per barrel, meaning the current Azeri Light price remains significantly above the budget benchmark.

Azeri Light has experienced major price swings over the years. Its lowest recorded price was $15.81 per barrel on April 21, 2020, while its record high of $149.66 was reached in July 2008.