Azeri Light crude up 2%

The price of Azerbaijan's Azeri Light crude oil increased by $1.32, or 1.85%, to $72.78 per barrel on the global market, a source in the oil market told Report.

According to trading results, the price of April futures for Brent crude stood at $72.04 per barrel.

At the Turkish Ceyhan port, the price of Azeri Light on an FOB basis rose by $1.2, or 1.74%, reaching $70.13 per barrel.

Azerbaijan's state budget for this year is based on an average oil price of $65 per barrel.