BAKU, Azerbaijan, August 6. The price of Azerbaijan’s Azeri Light crude oil on a CIF basis at Italy’s Augusta port declined by $1.45, or 2.05 percent, to $6914.59 per barrel on August 5, a source in the oil market told TurkicWorld.
At Türkiye's Ceyhan port, the price of Azeri Light on an FOB basis decreased by $1.57, or 2.27 percent, to $67.60 per barrel.
Meanwhile, the price of URALS crude went down by $1.44, or 2.45 percent, to $57.36 per barrel.
Brent Dated crude, produced in the North Sea, saw a decrease of $1.36, or 1.92 percent, bringing the price down to $69.48 per barrel.
The fiscal framework for Azerbaijan's 2025 state budget is predicated on a benchmark crude oil valuation of $70 per barrel.
