Azeri Light crude surges past $113 as global oil rally strengthens

Amid a sustained rally across international commodity exchanges, the price of Azerbaijan's flagship crude grade, Azeri Light (CIF), reached $113.32 per barrel.

Global benchmark Brent crude climbed to $114.26 per barrel. On a Free on Board (FOB) basis at the Turkish port of Ceyhan, Azeri Light (BTC FOB Ceyhan) was quoted at $109.87 per barrel, while Russia’s Urals crude blend traded at $85.60 per barrel.

N.Tebrizli