BAKU, Azerbaijan, September 15. The CIF price of Azerbaijan's Azeri Light crude at Italy's Augusta port increased by $7.27, or 6.06%, from the previous level to $127.29 per barrel, a source in the oil market told Trend.
FOB price of Azeri Light crude at Ceyhan port in Türkiye went up by $7.13, or 6.22%, to $121.71 per barrel.
The price of Urals crude grew by $6.41, or 7.08%, from the previous level to $96.94 per barrel.
Meanwhile, the price of North Sea “Dated Brent” crude rose by $10.72, or 9.04%, to $129.28 per barrel.
Azerbaijan's 2026 state budget is based on an average oil price assumption of $65 per barrel.
According to Trading Economics, the price of crude oil rose above $103 per barrel on Tuesday. It was reported that this occurred amidst volatility earlier in the week. "Investors continue to assess growing uncertainty regarding global oil supplies.
Saudi Arabia's East-West oil pipeline—which provides an alternative route to the Strait of Hormuz—remains shut down following drone attacks. There is currently no precise information on when the pipeline will resume operations.
Meanwhile, a planned diplomatic meeting between Iran and Gulf states to discuss the situation in the Strait of Hormuz has been abruptly postponed.
Iran also reported that a supertanker exploded after striking a mine while attempting to enter restricted waters. Tehran further declared that it would not engage in negotiations with the U.S. until its demands are met.
In Eastern Europe, Ukrainian President Volodymyr Zelenskyy stated that Kyiv is prepared to halt attacks on Russian energy facilities, provided Russia takes the same step. This statement contradicts U.S. President Donald Trump's claim that Moscow and Kyiv had already agreed to stop striking each other's energy infrastructure," the report noted.
