Commodities
Azeri Light Oil Price Surges 0.6% to $93.93 Per Barrel
The price of Azeri Light crude oil has increased by $0.56 per barrel to $93.93, according to a recent market report.
This marks a 0.6% rise in the oil's value on the world market, with September futures for Brent crude priced at $89.19 per barrel.
The price of Azeri Light crude also rose by $0.65 or 0.72% to $90.95 on a FOB basis at Turkey's Ceyhan port.
Azerbaijan's state budget is based on an average oil price of $65 per barrel, which may raise concerns about the country's financial projections given the current market prices.