Commodities
Azeri Light Crude Surges Past $107 per Barrel Amid Global Price Increases
The price of Azerbaijan's Azeri Light crude oil has risen significantly, reaching $107.31 per barrel on the global market. This marks a 2.98% increase from the previous day's price, which was up by $3.11. Meanwhile, Brent crude futures for November delivery settled at $106.51 per barrel.
The price of Azeri Light crude at Türkiye's Ceyhan port also saw an increase, rising by $3.18 or 3.15% to $104.23 per barrel on a Free on Board (FOB) basis.
It's worth noting that the Azerbaijani government has set its 2026 state budget based on an average oil price of just $65 per barrel, which is significantly lower than the current market price.