Azeri Light Oil Price Climbs to $65.80 in Global Markets

The price of Azerbaijan's Azeri Light crude oil increased by $1.68, or 2.62%, reaching $65.80 per barrel on the global market, according to an oil market source, The Caspian Post reports.

According to trading results, March futures for Brent crude settled at $62.96 per barrel. At Türkiye's Ceyhan port, the FOB price of Azeri Light rose by $1.68, or 2.7%, reaching $63.96 per barrel. Azerbaijan's state budget for this year is based on an average oil price of $65 per barrel.