BAKU, Azerbaijan, May 12. The price of Azerbaijan’s Azeri Light crude at Italy’s Augusta port, on a CIF (Cost, Insurance, and Freight) basis, grew by $0.5, or 0.45%, on May 11 from the previous level, coming in at $110.48 per barrel, a source in the oil market told TurkicWorld.
At Türkiye’s Ceyhan port, the FOB (Free on Board) price of Azeri Light crude went up by $0.59, or 0.55%, to $107.6 per barrel.
The price of URALS crude increased by $0.36, or 0.42%, to $86.21 per barrel, while Brent Dated crude from the North Sea rose by $0.52, or 0.5%, to $105.24 per barrel.
Azerbaijan’s 2026 state budget is based on an average oil price of $65 per barrel.
