Azeri Light Crude Oil Surges to $96.68 Per Barrel

The price of Azeri Light crude oil has increased by $1.20, or 1.26%, to $96.68 per barrel on the global market, according to a recent report.

This rise in price follows trading results and brings the current value of Azeri Light to its highest point since July 2008 when it reached $149.66 per barrel.

The price of Brent crude oil's October futures stands at $94.03 per barrel, which is a notable difference from the Azeri Light price.

Azerbaijan's state budget for this year is based on an average oil price of $65 per barrel, significantly lower than its current market value.