BAKU, Azerbaijan, July 11. The price of Azerbaijan’s Azeri Light crude oil on a CIF basis at Italy’s Augusta port dropped by $1.62, or 2.13%, to $74.40 per barrel, a source in the oil market told Trend.
At Türkiye's Ceyhan port, the price of "Azeri Light" on an FOB basis fell by $1.65, or 2.2%, to $73.18 per barrel.
Meanwhile, the price of Russia’s URALS crude declined by $1.83, or 3.05%, settling at $58.04 per barrel.
North Sea-produced Brent Dated also saw a decline, falling by $1.95, or 2.69%, to $70.59 per barrel.
Azerbaijan’s state budget for 2025 is based on an average oil price of $70 per barrel.