Azeri Light crude prices surge past $70 per barrel

Azerbaijan’s flagship "Azeri Light" crude oil has surpassed the $70 threshold on global markets following the latest trading sessions. The price of Azeri Light (CIF) at the Italian port of Augusta increased by $1.25, or 1.8%, to settle at $70.54 per barrel.

In the Turkish port of Ceyhan, the FOB price for Azeri Light grew by $1.09 to $68.08 per barrel. The upward trend reflects a broader rally in international energy benchmarks, with North Sea Brent crude trading around $67.76.

Market analysts point to sustained demand and regional supply dynamics as primary drivers. Current market prices remain significantly above the $65 per barrel average used for Azerbaijan’s 2026 state budget projections.

N.Tebrizli