Azeri Light crude rises to $87.90 per barrel in global markets

The price of Azerbaijan's Azeri Light crude oil increased significantly on global markets, reaching $87.90 per barrel, according to a source in the oil market, Report informs.

The price rose by $5.61, or 6.82%, compared with the previous session.

Meanwhile, the price of May futures for Brent crude was recorded at $87.71 per barrel following the results of trading.

At the Turkish Ceyhan port, the price of Azeri Light crude on an FOB basis also increased. One barrel of the Azerbaijani oil rose by $5.34, or 6.82%, to $83.69.

In Azerbaijan's state budget for this year, the average price of oil has been calculated at $65 per barrel.