BAKU, Azerbaijan, March 20. The price of Azerbaijan’s Azeri Light crude at Italy’s Augusta port, on a CIF (Cost, Insurance, and Freight) basis, moved up by $4.91, or 4.2%, on March 19 from the previous level, coming in at $122.70 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 grew by $6.25, or 5.55%, to $118.78 per barrel.
The price of URALS crude went up by $4.45, or 5.44%, to $86.22 per barrel, while Brent Dated crude from the North Sea rose by $4.91, or 4.36%, to $117.44 per barrel.
Azerbaijan’s 2026 state budget is based on an average oil price of $65 per barrel.