Azeri Light crude rises to $72.20 per barrel at Italy’s Augusta port

The price of Azerbaijan’s “Azeri Light” crude oil continued its upward trajectory on international markets, reflecting broader gains in global energy benchmarks, AzerNEWS reports.

At Italy’s Augusta port, the CIF price of Azeri Light rose by $1.06, or 1.49 percent, compared to the previous session, reaching $72.20 per barrel, according to a source in the oil market who spoke to Trend.

Meanwhile, at Türkiye’s Ceyhan port, the FOB price of Azeri Light increased by $1.13, or 1.65 percent, to $69.78 per barrel.

Other major crude benchmarks also posted gains. The price of Russia’s URALS crude climbed by $1.05, or 2.58 percent, to $41.68 per barrel. Similarly, North Sea Dated Brent rose by $1.08, or 1.5 percent, reaching $73.12 per barrel.

The latest increase places Azeri Light comfortably above the benchmark price assumed in Azerbaijan’s 2026 state budget, which is set at an average of $65 per barrel. The current market level therefore provides additional fiscal headroom, strengthening the country’s revenue outlook amid ongoing volatility in global energy markets.