Azeri Light crude slips 0.7%, stays above $117 a barrel

The price of Azerbaijan’s Azeri Light crude fell by $0.86, or 0.73%, to $117.30 a barrel, according to trading results.

Brent crude futures for July traded at $114.68 a barrel.

The price of Azeri Light on an FOB basis at Turkey’s Ceyhan port fell by $0.81, or 0.7%, to $114.90 a barrel.

Azerbaijan’s 2026 state budget assumes an average oil price of $65 a barrel.

Azeri Light is produced from the Azeri-Chirag-Gunashli oilfields. SOCAR holds a 31.65% stake in the project.