BAKU, Azerbaijan, September 9. The CIF price of Azerbaijan's Azeri Light crude at Italy's Augusta port increased by $0.87, or 0.81%, from the previous level to $108.18 per barrel, a source in the oil market said.
FOB price of Azeri Light crude at Ceyhan port in Türkiye went up by $0.76, or 0.73%, to $104.99 per barrel.
The price of Urals crude grew by $0.35, or 0.43%, from the previous level to $81.95 per barrel.
Meanwhile, the price of North Sea "Dated Brent" crude rose by $2.17, or 2.04%, to $108.68 per barrel.
Azerbaijan's 2026 state budget is based on an average oil price assumption of $65 per barrel.
According to Trading Economics, crude oil prices rose above $94 a barrel on Wednesday, hitting a three-month high, after Iran said it had attacked two U.S. ships and eight oil tankers in the Persian Gulf.
"The escalation has raised concerns about more serious disruptions to global oil supplies.
Tehran has also fired ballistic missiles towards Jordan and warned ships in the Persian Gulf to "immediately abandon their ships."
The latest attacks come after the U.S. struck five Iranian tankers near the island of Kharq, Iran's main oil export hub.
On the other hand, the Iran-backed Houthis have targeted energy infrastructure in southern Saudi Arabia, including the 400,000-barrel-per-day Jizan refinery.
Meanwhile, rising demand for oil in China is pushing up prices for crude from Africa, Canada and Latin America. The disruptions in the Strait of Hormuz have prompted refiners to seek alternative sources of supply and turn to more distant markets," the report said.
