BAKU, Azerbaijan, July 29. The price of Azerbaijan’s Azeri Light crude oil on a CIF basis at Italy’s Augusta port rose by $0.85, or 1.22 percent, to $70.33 per barrel on July 28, a source in the oil market told TurkicWorld.
At Türkiye's Ceyhan port, the price of Azeri Light on an FOB basis grew by $0.84, or 1.23 percent, to $69.07 per barrel.
Meanwhile, the price of URALS crude also went up by $0.84, or 1.46 percent, to $58.45 per barrel.
Brent Dated crude, produced in the North Sea, also saw an increase of $0.75, or 1.08 percent, bringing the price up to $70.31 per barrel.
Azerbaijan’s state budget for 2025 is based on an average oil price of $70 per barrel.
