The price of one barrel of Azerbaijan's Azeri Light crude oil on the global market increased by US$4.82, or 5.13%, to US$98.73.
A source in the oil market informed Report of this.
According to the trading results, September futures for Brent crude settled at US$92.19 per barrel.
Meanwhile, the price of one barrel of Azeri Light crude sold on an FOB basis at Türkiye's Ceyhan port rose by US$4.82, or 5.36%, to US$94.81.
It should be noted that Azerbaijan's 2026 state budget is based on an average oil price of US$65 per barrel.
For reference, the historical low for Azeri Light crude was US$15.81 per barrel, recorded on April 21, 2020, while its all-time high of US$149.66 per barrel was registered in July 2008. Azeri Light crude is produced in Azerbaijan under the development of the Azeri-Chirag-Gunashli (ACG) oil fields block, in which SOCAR holds a 31.65% stake.
https://report.az/energetika/azerbaycan-neftinin-qiymeti-99-dollara-yaxinlasir