Azeri Light price falls 3% to $70 per barrel

The price of Azerbaijan's Azeri Light crude oil decreased by $2.17, or 3%, to $70.03 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 $70.88 per barrel.

At Türkiye's Ceyhan port, the price of Azeri Light crude on an FOB basis fell by $2.23, or 3.19%, to $67.55 per barrel.

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