Azeri Light crude drops to $71.97 per barrel

The price of Azerbaijan's Azeri Light crude declined on global markets, falling by $1.34, or 1.83%, to $71.97 per barrel, a source in the oil market told Report.

Following trading results, the price of April futures for Brent crude stood at $71.33 per barrel.

At Türkiye's Ceyhan port, the price of Azeri Light crude on an FOB basis decreased by $1.28, or 1.81%, to $69.36 per barrel.

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