BAKU, Azerbaijan, August 5. The price of Azerbaijan’s Azeri Light crude oil on a CIF basis at Italy’s Augusta port declined by $0.78, or 1.09 percent, to $70.59 per barrel on August 4, a source in the oil market told Trend.
At Türkiye's Ceyhan port, the price of Azeri Light on an FOB basis decreased by $0.78, or 1.1 percent, to $69.17 per barrel.
Meanwhile, the price of URALS crude went down by $0.72, or 1.21 percent, to $58.80 per barrel.
Brent Dated crude, produced in the North Sea, saw a decrease of $0.55, or 0.77 percent, bringing the price down to $70.84 per barrel.
The fiscal framework for Azerbaijan's 2025 state budget is predicated on a benchmark crude oil valuation of $70 per barrel.