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The price of Azerbaijan’s flagship Azeri Light crude oil has climbed above $77 per barrel, extending gains in global energy markets.
The price of one barrel of Azeri Light increased by $0.99, or 1.3%, reaching $77.37, The Caspian Post reports via Report.
Meanwhile, August futures for Brent Crude settled at $73.24 per barrel, reflecting continued strength in international oil prices.
Azeri Light exported through the Turkish port of Ceyhan under FOB terms also posted gains, rising by $0.84, or 1.1%, to $74.92 per barrel.
The increase places Azerbaijan’s benchmark crude well above the oil price assumption used in the country’s 2026 state budget, which was set at $65 per barrel.
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