Azeri Light crude surges past $124 per barrel

The price of Azerbaijan’s flagship crude, Azeri Light, rose by $5.50, or 4.61%, on the global market to reach $124.76 per barrel.

According to closing market data, December futures for benchmark Brent crude settled at $127.11 per barrel. On a Free on Board (FOB) basis at Türkiye’s Port of Ceyhan, Azeri Light advanced by $5.04, or 4.48%, climbing to $117.33 per barrel. Azerbaijan’s state budget for 2026 is benchmarked against a baseline oil price of $65 per barrel.

N.Tebrizli