Azeri Light oil rises to almost 122 dollars per barrel

Azeri Light crude rose $2.25 to $121.95 per barrel in regular world market trading, according to auction results.

Brent December futures were fixed at $114.72 per barrel, while Azeri Light on an FOB basis at Türkiye's Ceyhan port gained $2.24 to $111.35.

Azerbaijan's state budget for this year sets the base oil price at $65. The historical low for Azeri Light was $15.81 on April 21, 2020, and the high was $149.66 in July 2008.