BAKU, Azerbaijan, March 27. The price of Azerbaijan’s Azeri Light crude at Italy’s Augusta port, on a CIF (Cost, Insurance, and Freight) basis, moved up by $7.55, or 6.6%, on March 26 from the previous level, coming in at $121.25 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 increased by $7.17, or 6.7%, to $114.41 per barrel.
The price of URALS crude went up by $8.45, or 10.6%, to $88.17 per barrel, while Brent Dated crude from the North Sea rose by $7.91, or 7.2%, to $117.49 per barrel.
Azerbaijan’s 2026 state budget is based on an average oil price of $65 per barrel.