BAKU, Azerbaijan, May 23. The price of Azerbaijan’s Azeri Light crude oil on a CIF basis at Italy’s Augusta port fell by $0.62, or 0.92%, to $66.65 per barrel compared to the previous day, TurkicWorld reports, citing the market source.
The free on board (FOB) valuation for a barrel of Azeri Light at Türkiye's Ceyhan terminal experienced a decrement of $0.61, translating to a 0.92 percent decline, resulting in a new price point of $65.34.
The valuation of Urals crude experienced a decrement of $0.82, translating to a 1.56 percent contraction, positioning it at $51.61 per barrel.
In the interim, the Dated Brent crude from the North Sea experienced a decrement of $0.63, translating to a decline of 0.96 percent, settling at $64.74 per barrel.
The fiscal framework for Azerbaijan's 2025 budgetary allocation projects a benchmark crude oil valuation of $70 per barrel.
