Azerbaijani oil prices rise amid US-Iran tensions

Prices for Azerbaijan's Azeri Light crude have risen significantly due to escalating geopolitical tensions in the Middle East. At Italy's Augusta port, the CIF price for Azeri Light reached $119.54 per barrel, representing a 5.49% increase. At the Ceyhan port in Türkiye, the FOB price rose to $115.55 per barrel.

The surge in energy costs is driven by fears of long-term supply disruptions stemming from the intensifying conflict between the United States and Iran. Recent hostilities have included Iranian missile strikes against U.S. warships, tankers, and facilities, while the U.S. has targeted Iranian oil tankers.

Market analysts note that the conflict has expanded, with Iran-backed Houthis attacking energy facilities in Saudi Arabia. While Azerbaijan's 2026 state budget assumes an average oil price of $65 per barrel, current market prices are trading well above that threshold.