The price of Azerbaijan's Azeri Light crude declined on global markets, dropping by $1.03, or 0.94%, to $108.16 per barrel, according to market sources, Report informs.
Meanwhile, May futures for Brent crude were traded at $103.31 per barrel following recent auction results.
At Türkiye's Ceyhan port, the FOB price for Azeri Light also decreased by $1.01, or 0.95%, settling at $104.3 per barrel.
Despite the decline, oil prices remain well above the benchmark set in Azerbaijan"s 2026 state budget, which is based on an average oil price of $65 per barrel.