Azeri Light Oil Price Jumps More Than 1.6% on Global Markets

The price of a barrel of Azerbaijan's Azeri Light crude oil rose by $1.04, or 1.6%, reaching $65.64, according to a source in the oil market.

According to trading results, the price of March futures for Brent crude oil was $62.93 per barrel, The Caspian Post reports.

At Türkiye's Ceyhan port, the FOB price of one barrel of Azeri Light crude increased by $1.06, or 1.69%, to $63.86.

Azerbaijan's state budget for this year is based on an average oil price of $65 per barrel.