The price of Azerbaijan's Azeri Light crude oil rose by $0.44, or 0.45%, to $97.12 per barrel on the world market.
A source in the oil market told Report that the increase was recorded during trading.
Meanwhile, the price of October Brent futures stood at $94.43 per barrel.
At the FOB basis at Türkiye's Ceyhan port, the price of one barrel of Azeri Light increased by $0.66, or 0.7%, to $93.7.
Azerbaijan's state budget for this year is based on an average oil price of $65 per barrel.
Azeri Light's lowest recorded price was $15.81 per barrel on April 21, 2020, while its highest price was $149.66 in July 2008.
Azeri Light is produced from the Azeri-Chirag-Gunashli (ACG) field block under the production-sharing agreement for its development. The State Oil Company of Azerbaijan (SOCAR) holds a 35.3% stake in the agreement.