BAKU, Azerbaijan, July 15. The price of Azerbaijan’s Azeri Light crude oil on a CIF basis at Italy’s Augusta port fell by $1.53, or 2.02%, to $74.06 per barrel, a source in the oil market told Trend.
At Türkiye's Ceyhan port, the price of Azeri Light on an FOB basis dropped by $1.51, or 2.03%, to $72.86 per barrel.
Meanwhile, the price of URALS crude declined by $1.30, or 2.17%, to $58.56 per barrel.
Brent Dated crude, produced in the North Sea, also saw a decrease of $1.17, or 1.61%, bringing the price down to $71.46 per barrel.
Azerbaijan’s state budget for 2025 is based on an average oil price of $70 per barrel.