The price of Azerbaijan’s Azeri Light crude oil on a CIF basis at Italy’s Augusta port grew by $1.22, or 1.76 percent, to $70.41 per barrel on July 24, a source in the oil market told reporters.
At Türkiye's Ceyhan port, the price of Azeri Light on an FOB basis rose by $1.26, or 1.86 percent, to $69.16 per barrel.
Meanwhile, the price of URALS crude increased by $1.45, or 2.55 percent, to $58.39 per barrel.
Brent Dated crude, produced in the North Sea, also saw a growth of $1.1, or 1.58 percent, bringing the price up to $70.8 per barrel.
Azerbaijan’s state budget for 2025 is based on an average oil price of $70 per barrel.
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