BAKU, Azerbaijan, May 8. The price of Azerbaijan’s Azeri Light crude at Italy’s Augusta port, on a CIF (Cost, Insurance, and Freight) basis, decreased by $3.44, or 3.16%, on May 7 from the previous level, coming in at $105.55 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 $3.42, or 3.23%, to $102.49 per barrel.
The price of URALS crude declined by $3.2, or 3.79%, to $81.21 per barrel, while Brent Dated crude from the North Sea dipped by $3.6, or 3.45%, to $100.59 per barrel.
Azerbaijan’s 2026 state budget is based on an average oil price of $65 per barrel.
