Azeri Light crude oil price climbs 0.48 percent

The price of Azeri Light crude oil has risen on global markets, according to APA-Economics. The cost of one barrel increased by $0.60, or 0.48%, reaching $124.61. This follows the previous price of $124.01 per barrel.

The Azerbaijani government’s 2026 state budget is based on an average oil price of $65 per barrel, which is significantly lower than the current market rate.

This price increase comes amid other notable shifts in the energy sector, including a 4% drop in natural gas prices on the New York exchange and a new oil market forecast by Fitch that considers risks in the Strait of Hormuz.