Azeri Light crude rose 3.71%, or $4.51, to $125.94 per barrel on global markets, according to trading data.
Brent futures for November delivery stood at $125.52 per barrel, while Azeri Light on an FOB basis at Ceyhan gained 3.95%, or $4.54, to $119.26.
Azerbaijan produces crude at the Azeri‑Chirag‑Gunashli field complex, where SOCAR holds a 35.3% stake. Azeri Light recorded its lowest price of $15.81 in April 2020 and its highest price ($149.66) in July 2008. The country's current state budget is based on an oil price of $65 per barrel.
