Azeri Light crude prices drop on global and regional markets

The price of one barrel of Azerbaijan's Azeri Light crude fell by $0.95, or 1.42%, reaching $66 on the global market, Report informs, citing a source in the oil sector.

February futures for Brent crude settled at $63.77 at the end of trading.

In Türkiye's Ceyhan port, the FOB price for a barrel of Azeri Light decreased by $0.98, or 1.51%, to $64.07.

Despite these declines, Azerbaijan's state budget for the year is based on an oil price of $70 per barrel.