Azerbaijani oil surges past $126 per barrel as Iran tensions drive global prices higher
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Azeri Light crude oil from Azerbaijan reached $126.16 per barrel on the European market. This represents a price increase of $3.88, which is a 3.2% rise. The surge follows renewed fears that the US might launch military strikes against Iran. Such actions could cause disruptions to energy supplies from the Middle East.
The price of Azerbaijan's Azeri Light crude oil has climbed to $126.16 per barrel in the European market, rising by $3.88, or 3.2%, amid renewed concerns over potential US military strikes against Iran and disruptions to Middle Eastern energy supplies.