Azeri Light crude drops below $70 per barrel

The price of one barrel of Azerbaijan's Azeri Light crude oil has decreased by $1.37, or 1.92%, settling at $69.88, Report informs, citing sources in the oil market.

Based on trading results, the price of October futures for Brent crude oil stood at $67.71 per barrel.

At Türkiye's Ceyhan port, the price of a barrel of Azeri Light crude oil on a FOB (Free on Board) basis dropped by $1.36, or 1.95%, to $68.40.

For reference, Azerbaijan's state budget for this year is based on an average oil price of $70 per barrel.