Azerbaijani oil price falls below $101

The price of Azerbaijan’s Azeri Light crude fell by $3.62, or 3.47%, to $100.78 per barrel on the global market, Report said, citing a source in the oil market.

August Brent crude futures settled at $98.79 per barrel.

The price of Azeri Light on an FOB basis at Turkey’s Ceyhan port fell by $3.59, or 3.52%, to $98.39 per barrel.

Azerbaijan’s 2026 state budget is based on an average oil price of $65 per barrel.

Azeri Light hit its lowest level of $15.81 per barrel on April 21, 2020, while its record high was $149.66 in July 2008.