BAKU, Azerbaijan, April 9. The price of Azerbaijan’s Azeri Light crude at Italy’s Augusta port, on a CIF (Cost, Insurance, and Freight) basis, decreased by $20.24, or 14.4%, on April 8 from the previous level, coming in at $120.44 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 down by $19.69, or 14.6%, to $114.89 per barrel.
The price of URALS crude receded by $19.88, or 18.2%, to $89.38 per barrel, while Brent Dated crude from the North Sea fell by $19.74, or 13.7%, to $124.68 per barrel.
Azerbaijan’s 2026 state budget is based on an average oil price of $65 per barrel.