Azerbaijan's oil price climbs above 100 dollars

The price of Azerbaijan's Azeri Light crude oil on a CIF basis at Italy's Augusta port increased by $1.83, or 1.85%, from the previous session to $100.56 per barrel.

The price of Azerbaijan's Azeri Light crude on an FOB basis at the Turkish port of Ceyhan also rose by $1.88, or 1.98%, to $96.69 per barrel.

Azerbaijan's 2026 state budget is based on an average oil price of $65 per barrel.

According to Trading Economics, the price of oil rose to $88 per barrel on Thursday, reaching its highest level in the past six weeks. The rise continued for the fifth consecutive trading session amid escalating tensions in the Middle East.