Azerbaijan’s “Azeri Light” crude rises over 8% to $109 per barrel

On July 9, 2026, the price of Azerbaijan’s “Azeri Light” crude increased by 8.54 USD, or 8.49 %, reaching $109.10 per barrel on a CIF basis at Italy’s Augusta port. The same grade was quoted at Turkey’s Ceyhan port on a FOB basis at $105.18 per barrel, up 8.49 USD (8.78 %). Other grades also saw gains: “URALS” crude rose $7.96 (12.65 %) to $70.90 per barrel, and North Sea “Dated Brent” climbed $10.75 (11.42 %) to $104.92 per barrel. The rise follows a broader market rally that has lifted crude above $92 per barrel, driven by heightened Middle‑East tensions and supply‑chain disruptions, including the suspension of loading at the Black Sea terminal of the Caspian Pipeline Consortium after tanker attacks. Azerbaijan’s 2026 budget forecasts an average barrel price of $65.