Azeri Light Gains Nearly 2% Amid Global Oil Price Increase

RunWithRugs · 2026-03-02T02:58:05+00:00

Azerbaijan's Azeri Light crude prices have risen at both Italy's Port of Augusta and Turkey's Port of Ceyhan, with increases of 1.85% and 1.74% respectively. Russia's Urals oil also saw a slight rise, while the Dated Brent benchmark increased as well.

RunWithRugs

2026-03-02 02:58:05

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(MENAFN- AzerNews) Qabil Ashirov Read more

The price of Azerbaijan’s Azeri Light crude rose at Italy’s Port of Augusta, increasing by $1.32, or 1.85 percent, compared to the previous session to reach $72.78 per barrel on a CIF basis, ** AzerNEWS** reports.

A source in the oil market told Trend that at Türkiye’s Port of Ceyhan, the price of Azeri Light on an FOB basis climbed by $1.20, or 1.74 percent, to $70.13 per barrel.

Meanwhile, the price of Russia’s Urals oil increased by $0.33, or 0.87 percent, to $38.31 per barrel.

The benchmark Dated Brent, produced in the North Sea, also posted gains, rising by $1.25, or 1.77 percent, to $72.04 per barrel.

Under Azerbaijan’s 2026 state budget projections, the average oil price is set at $65 per barrel.

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