Azerbaijan's Azeri Light Crude Surges Past $100 Per Barrel

The price of Azerbaijan's Azeri Light crude oil has surged past $100 per barrel on global markets, according to recent data. This increase marks a significant jump from its previous level, with Azeri Light climbing by $3.29, or 3.33%, to $101.87 per barrel.

For comparison, September futures for Brent crude, the international benchmark, settled at $96.57 per barrel. Meanwhile, the price of Azeri Light crude delivered from the Turkish Mediterranean port of Ceyhan on a free-on-board (FOB) basis rose by $3.39, or 3.57%, to $98.25 per barrel.

Azerbaijan's state budget for 2026 is based on an assumed average oil price of just $65 per barrel, which is far below the current market levels. Historically, Azeri Light has reached its lowest recorded price of $15.81 per barrel in April 2020 and its all-time high of $149.66 per barrel in July 2008.