BAKU, Azerbaijan, March 8. The price of Azerbaijan’s Azeri Light crude oil on a CIF basis in the Italian port of Augusta grew on March 8 by $1.89 (2.62 percent) compared to the previous rate, now sitting at $73.85 per barrel, TurkicWorld reports, citing a source in the country's oil and gas market.
On a FOB basis in the Turkish port of Ceyhan, the price of Azeri Light went up by $1.87 (2.64 percent) to $72.58 per barrel.
The price of URALS crude rose by $1.8 (3.27 percent) from the previous rate, amounting to $56.74 per barrel.
North Sea benchmark crude, Dated Brent, was $1.76 (2.5 percent) more than the previous rate, at $72.07 per barrel.
The official exchange rate as of March 8 is 1.7 AZN/1 USD. The average price of a barrel of oil in the state budget of Azerbaijan for 2025 is estimated at $ 70.
