Azerbaijani oil price jumps to nearly 105 dollars

The price of Azerbaijani Azeri Light crude rose by 2.96% (or $3.02) to $104.98 per barrel in recent trading.

Brent November futures closed at $101.69, while Azeri Light on FOB terms in Ceyhan rose by 3% ($2.98) to $102.19.

Azeri Light is produced at the Azeri‑Chirag‑Guneshli field block, where SOCAR holds a 35.3% stake. The state budget baseline price is set at $65, with a historical peak of $149.66 in July 2008 and a low of $15.81 in April 2020.