The price of Azerbaijan's Azeri Light (Azeri LT CIF) oil increased by $1.05, or 1.52%, reaching $69.87 per barrel on the global market.
Meanwhile, August futures for Brent crude were traded at $67.92 per barrel, News.Az reports, citing local media.
At Türkiye's Ceyhan port, the price of Azeri LT CIF oil on a Free on Board (FOB) basis rose by $0.95, or 1.4%, bringing it to $68.56 per barrel.
Azerbaijan has set the average oil price in its 2025 state budget at $70 per barrel.
Historically, the lowest price for Azeri Light was recorded on April 21, 2020, at $15.81 per barrel, while the highest was $149.66 in July 2008.
