BAKU, Azerbaijan, May 7. The price of Azerbaijan’s Azeri Light crude at Italy’s Augusta port, on a CIF (Cost, Insurance, and Freight) basis, decreased by $9.57, or 8.1%, on May 6 from the previous level, coming in at $108.99 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 $9.54, or 8.26%, to $105.91 per barrel.
The price of URALS crude declined by $9.78, or 10.38%, to $84.41 per barrel, while Brent Dated crude from the North Sea dipped by $10.8, or 9.39%, to $104.19 per barrel.
Azerbaijan’s 2026 state budget is based on an average oil price of $65 per barrel.
