Energy markets: Price of Azeri Light crude approaches $120 per barrel

Azerbaijani Azeri Light (CIF) crude oil has risen in price on global markets.

As APA-Economics reports, the price of one barrel of Azerbaijani oil increased by $6.22, or 5.5%, and amounted to $119.54.

Note that the previous price of Azerbaijani oil was $113.32.

Recall that Azerbaijan's state budget for the current year sets the average price of one barrel of Azeri Light oil at $65.