BAKU, Azerbaijan, May 9. The price of Azerbaijan’s Azeri Light crude at Italy’s Augusta port, on a CIF (Cost, Insurance, and Freight) basis, grew by $4.43, or 4.2%, on May 8 from the previous level, coming in at $109.98 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 $4.52, or 4.41%, to $107.01 per barrel.
The price of URALS crude increased by $4.64, or 5.71%, to $85.85 per barrel, while Brent Dated crude from the North Sea rose by $4.13, or 4.1%, to $104.72 per barrel.
Azerbaijan’s 2026 state budget is based on an average oil price of $65 per barrel.
