BAKU, Azerbaijan, October 3. The price of Azerbaijan's Azeri Light crude oil on a CIF basis at Italy's Augusta port decreased by $0.75, or 0.6%, from the previous figure to $124.01 per barrel, a source in the oil market told Trend.
Meanwhile, the price of one barrel of Azeri Light on a FOB basis at Türkiye's Ceyhan port decreased by $2.59, or 2.2%, to $114.74.
The price of URALS crude oil decreased by $1.37, or 1.6%, from the previous figure to $85.85 per barrel.
The price of one barrel of Dated Brent crude oil produced in the North Sea decreased by $0.15, or 0.1%, to $126.96.
The average oil price in Azerbaijan's state budget for 2026 is set at $65 per barrel.
According to the latest data from Trading Economics, the price of one barrel of crude oil stood at around $93 on Friday.
"Oil prices remained at this level after rising for two consecutive trading sessions amid reports that the US is considering sending another aircraft carrier to the Middle East. The move increases the likelihood of a further expansion of the war with Iran and additional disruptions to energy supplies from the region.
The Pentagon is also considering deploying up to 10,000 sailors and Marines to the Persian Gulf. This could give US President Donald Trump additional options if he decides to intensify attacks against Iran.
According to reports, Trump told his aides that he expects bombing of Iran to resume after the midterm elections scheduled for November.
The latest escalation in tensions comes as crude oil supplies from the Middle East have largely returned to pre-war levels. However, markets are questioning the sustainability of this recovery without a long-term agreement to end the conflict.
At least three tankers came under attack while transiting the Strait of Hormuz this week. In addition, Iran and its Houthi allies carried out strikes on oil refineries in various parts of the region," Trading Economics notes.
