Spike in Azerbaijan’s Oil Prices Amid Rising Global Tensions

Baku, Azerbaijan — The price of Azerbaijan’s Azeri Light crude oil saw a notable rise on June 19, 2025, increasing by $3.41 (14.31 percent) to reach $82.58 per barrel in Italy‘s port of Augusta. This surge reflects ongoing global uncertainty in the oil market.

Additionally, the price on a Free on Board (FOB) basis at Türkiye‘s Ceyhan port also climbed by $3.41 to $81.20 per barrel. The recent price shift in Azerbaijan’s oil comes in the wake of price increases in other crude markets around the world.

Russia’s URALS crude also experienced an uptick of $3.43 (5.4 percent), settling at $66.98 per barrel. The North Sea benchmark, Dated Brent, gained $3.39 (4.4 percent), reaching $80.44 per barrel.

According to an official source from Azerbaijan’s oil and gas sector, the state has projected the average oil price for the country’s 2025 budget at $70 per barrel, laying the foundation for future economic plans.

The increase in oil prices is occurring alongside rising geopolitical tensions, particularly following Israel’s recent air strikes in the Middle East, which have affected oil supply lines. Multiple analysts express fears that a sustained conflict could disrupt supply chains vital to global energy needs.

As markets continue to adjust to these developments, producers in Azerbaijan and beyond are preparing for potential fluctuations that could influence both local economies and international oil markets.