BAKU, Azerbaijan, May 22. The price of Azerbaijan’s Azeri Light crude at Italy’s Augusta port, on a CIF (Cost, Insurance, and Freight) basis, grew by $1.86 or 1.62%, on May 21 from the previous level, coming in at $114.14 per barrel, a source in the oil market told Trend.
At Türkiye’s Ceyhan port, the FOB (Free on Board) price of Azeri Light crude went up by $1.85, or 1.68%, to $111.82 per barrel.
The price of URALS crude increased by $1.49, or 1.69%, to $89.52 per barrel, while Brent Dated crude from the North Sea rose by $1.88, or 1.71%, to $111.71 per barrel.
Azerbaijan’s 2026 state budget is based on an average oil price of $65 per barrel.
