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Crude grade comparison

Bonny Light vs Azeri Light (BTC)

Price, Bonny Light spread, quality and refinery yields side by side. Updated .

Nigeria (Niger Delta)

Bonny Light

$122.13USD/BBL
■ 0.00(0.00%)
Class
Light/Sweet
API
37°
Sulfur
0.15%
VS
Bonny Light – Azeri Light (BTC) spread +38.04 USD/BBL · Bonny Light premium
Azerbaijan (Caspian Sea)

Azeri Light (BTC)

$84.09USD/BBL
▲ +0.93 (+1.11%)
Class
Light/Sweet
API
35°
Sulfur
0.15%

Bonny Light Crude vs Azeri Light (BTC) Crude: on July 06, 2026 Bonny Light settled at $122.13/bbl (0.00%) and Azeri Light (BTC) at $84.09/bbl (+1.11%), putting Bonny Light $38.04 above Azeri Light (BTC). Bonny Light is light/sweet crude (37° API, 0.15% sulfur); Azeri Light (BTC) is light/sweet crude (35° API, 0.15% sulfur).

Price history

Bonny Light vs Azeri Light (BTC) price chart

Daily assessed prices in USD per barrel and the spread between them.

  • Bonny Light Crude
  • Azeri Light (BTC) Crude
30-day Bonny Light avg
$114.27
30 shared days
30-day Azeri Light (BTC) avg
$110.58
30 shared days
Average spread
+3.69
Bonny Light minus Azeri Light (BTC)
Days Bonny Light above
3 / 30
widest $56.81 on 2026-04-29

Bonny Light – Azeri Light (BTC) spread $/bbl · above zero: Bonny Light premium · below zero: Azeri Light (BTC) premium

Free view: last 30 days. Gaps mark days with no assessment. Subscribe for longer history and Excel export.

View as table
DateBonny LightAzeri Light (BTC)Spread
09 Jun 2026-103.93-
08 Jun 2026-107.42-
04 Jun 2026-112.84-
03 Jun 2026-109.82-
02 Jun 2026-109.82-
01 Jun 2026-116.39-
29 May 2026-117.02-
28 May 2026-120.03-
21 May 2026-127.47-
20 May 2026-131.26-
18 May 2026-131.92-
12 May 2026-126.70-
11 May 2026-126.15-
08 May 2026-121.96-
28 Apr 2026-128.77-
27 Apr 2026-126.90-
26 Apr 2026-112.10-
11 Apr 2026-119.00-
06 Jul 2026122.13--
02 Jul 2026122.13--
01 Jul 2026122.13--
26 Jun 2026122.13--
25 Jun 2026122.13--
18 Jun 2026122.13--
17 Jun 2026122.13--
16 Jun 2026122.13--
12 Jun 2026122.13--
11 Jun 2026122.13--
10 Jun 2026122.13102.13+20
05 Jun 2026122.13111.26+10.87
27 May 2026122.13120.41+1.72
22 May 2026122.13126.93-4.8
19 May 2026104.60131.50-26.9
15 May 2026104.60115.52-10.92
14 May 2026104.60127.36-22.76
07 May 2026104.60122.33-17.73
06 May 2026104.60--
05 May 2026104.60130.94-26.34
04 May 2026104.60130.94-26.34
01 May 2026104.60130.94-26.34
29 Apr 202671.96128.77-56.81
09 Apr 2026133.58--
01 Mar 2026104.60--
Price analysis

Highs and lows by period

PeriodBonny LightAzeri Light (BTC)
HighLowRangeHighLowRange
7 Days---%---%
30 Days---%---%
90 Days---%---%
180 Days122.13104.614.35%131.9283.1636.96%
365 Days133.5871.9646.13%131.9283.1636.96%

Range = (high − low) ÷ high.

Daily prices

Recent prices & spread

DateBonny LightChgAzeri Light (BTC)ChgSpread
104.600
133.580
71.96-61.62128.770-56.81
104.60+32.64130.94+2.17-26.34
104.600130.940-26.34
Full daily history for both grades since 2019 is available to subscribers.Subscribe now
Crude quality

Quality & refinery yields

How the two crudes differ in the barrel. Each property uses its own scale.

  • Bonny Light Crude
  • Azeri Light (BTC) Crude

Physical & chemical properties

API gravityhigher = lighter
BL37°
AL(35°
Sulfur contenthigher = sourer
BL0.15%
AL(0.15%
Densityhigher = heavier
BL0.847 g/cm³
AL(0.851 g/cm³
Viscosityhigher = thicker
BL2.9 cSt
AL(4.2 cSt
Pour pointhigher = waxier
BL-3 °C
AL(15 °C

Typical refinery yields

Gasoline% of barrel
BL50-55%
AL(48-52%
Diesel% of barrel
BL20-25%
AL(28-32%
Jet fuel% of barrel
BL01-12'%
AL(01-12'%
Residual fuel% of barrel
BL08-10'%
AL(08-10'%

Bars show each yield range; the faint part runs from 0 to the low end. Scale 0–50%.

Full specification comparison

PropertyBonny Light CrudeAzeri Light (BTC) CrudeBonny Light − Azeri Light (BTC)
Classification
ClassificationLight/SweetLight/Sweet
OriginNigeria (Niger Delta)Azerbaijan (Caspian Sea)
Chemical properties
API gravity37° API35° API+2 °API
Sulfur content0.15%0.15%0%
Density0.847 g/cm³0.851 g/cm³-0.004 g/cm³
Pour point-3 °C15 °C-18 °C
Viscosity2.9 cSt4.2 cSt-1.3 cSt
Typical refinery yields
Gasoline50-55%48-52%+3 pts
Diesel20-25%28-32%-7 pts
Jet fuel01-12'%01-12'%0 pts
Residual fuel08-10'%08-10'%0 pts
Trading & logistics
Delivery basisBonny Terminal, NigeriaCeyhan (Turkey)
Major exchangesPlatts, Argus (Brent differential)Platts, Argus (Med CIF)
Export hubBonny TerminalCeyhan, Turkey (via BTC pipeline)
Main destinationsIndia, Europe, US East CoastEurope, Mediterranean
Benchmark typeRegional (W. Africa)Regional (Med)
Market profile
Key characteristicsPremium Nigerian crude, ultra-low sulfur, premium for gasolineCaspian light sweet, BTC pipeline to Mediterranean
Refining notesHighly valued for gasoline productionHigh gasoline & kerosene yields; low residual output
FAQ

Bonny Light vs Azeri Light (BTC) questions

The spread, the quality gap and why each grade is a benchmark.

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July 06, 2026 Bonny Light Crude was $122.13 and Azeri Light (BTC) Crude $84.09 per barrel, so Bonny Light traded at a premium of $+38.04 over Azeri Light (BTC). Over the previous 30 shared price days the spread averaged +3.69 $/bbl, with Azeri Light (BTC) priced above Bonny Light on 3 day(s).

Bonny Light Crude is a light/sweet Nigeria (Niger Delta) crude (37° API, 0.15% sulfur) and Regional (W. Africa) benchmark. Azeri Light (BTC) Crude is a light/sweet Azerbaijan (Caspian Sea) crude (35° API, 0.15% sulfur) and Regional (Med) benchmark.
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