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The global price of Azerbaijan’s Azeri Light (Azeri LT CIF) crude rose by $1.05, or 1.52%, reaching $69.87 per barrel.
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In comparison, Brent crude futures for August delivery were traded at $67.92 per barrel.
At Türkiye’s Ceyhan port, the price of Azeri LT CIF oil on a Free on Board (FOB) basis also saw an uptick, rising by $0.95, or 1.4%, to settle at $68.56 per barrel.
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Azerbaijan has projected an average oil price of $70 per barrel in its 2025 state budget.
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Historically, Azeri Light reached its lowest price on April 21, 2020, at $15.81 per barrel, while its highest price was recorded in July 2008 at $149.66 per barrel.
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