Azeri Light crude rises to $66.43 per barrel on global markets

The price of Azerbaijan's Azeri Light crude oil increased by $0.56, or 0.85%, reaching $66.43 per barrel on the world market, Report informs, citing sources in the oil sector.

As for benchmark Brent crude, January futures traded at $66.02 per barrel following the latest auctions.

At Türkiye's Ceyhan port, the price of Azeri Light on a FOB (Free on Board) basis rose by $0.58, or 0.91%, to $64.4 per barrel.

Azerbaijan's state budget for this year is based on an average oil price of $70 per barrel.

The lowest recorded price for Azeri Light was $15.81 per barrel on April 21, 2020, while the record high was $149.66 per barrel in July 2008.