BAKU, Azerbaijan, March 28. The price of Azerbaijan’s Azeri Light crude at Italy’s Augusta port, on a CIF (Cost, Insurance, and Freight) basis, moved up by $2.99, or 2.5%, on March 27 from the previous level, coming in at $124.24 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 $3.03, or 2.7%, to $117.44 per barrel.
The price of URALS crude went up by $3.94, or 4.5%, to $92.11 per barrel, while Brent Dated crude from the North Sea rose by $3.02, or 2.6%, to $120.51 per barrel.
Azerbaijan’s 2026 state budget is based on an average oil price of $65 per barrel.