Azeri Light Crude Rises to $107.46 Per Barrel
The benchmark Caspian grade climbed 0.58% on the global market, trading above Brent January futures.
Updated on Nov. 7, 2026 in Oil and Gas
Azeri Light crude increased by $0.62, or 0.58%, to $107.46 per barrel on the global market. Brent crude January futures were priced at $96.48 per barrel over the same period.
Why it matters
Azeri Light is a key benchmark for Caspian crude, and its price trades well above Brent futures in this session. The gap reflects differences in the grade's pricing relative to the broader benchmark.
Azeri Light's FOB price at the Turkish port of Ceyhan rose $0.80 (0.79%) to $102.40 per barrel. The source does not identify the factors behind the daily movement.
The players
State Oil Company of the Republic of Azerbaijan (SOCAR)
SOCAR is Azerbaijan's national oil company, which holds a 35.3% stake in the Azeri-Chirag-Gunashli project that produces Azeri Light crude.
The details
Azeri Light is produced under the contract for development of the Azeri-Chirag-Gunashli (ACG) block of fields, in which the State Oil Company of the Republic of Azerbaijan (SOCAR) holds a 35.3% stake. Azerbaijan's state budget for this year assumes an average oil price of $65 per barrel, well below current levels.
Timeline
April 21, 2020: Azeri Light recorded its lowest price, $15.81 per barrel.
July 2008: Azeri Light reached its all-time high of $149.66 per barrel.
November 7, 2026: Azeri Light rose to $107.46 per barrel.
Market Landscape
Azeri Light's current price of $107.46 sits roughly 28% below its July 2008 all-time high of $149.66 and far above its April 2020 low of $15.81. This places the grade within a wide historical trading range that reflects the sharp swings in global crude markets over the past two decades.
Crude price swings of this size feed directly into fuel costs and the energy budgets of households and businesses that depend on petroleum products. Readers tracking energy expenses can watch benchmark grades like Azeri Light for early signals of retail price direction.
The takeaway
Benchmark crude prices can move independently of one another, so a single grade's price is an incomplete picture of the market. Watching several benchmarks together gives a fuller view of global oil conditions.
Further reading
Track more crude benchmarks in our Oil and Gas coverage.
