BAKU, Azerbaijan, May 19. The price of Azerbaijan’s Azeri Light crude at Italy’s Augusta port, on a CIF (Cost, Insurance, and Freight) basis, grew by $1.75, or 1.5%, on May 18 from the previous level, coming in at $118.16 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 up by $1.77, or 1.55%, to $115.71 per barrel.
The price of URALS crude increased by $1.85, or 2%, to $94.22 per barrel, while Brent Dated crude from the North Sea rose by $2.7, or 2.4%, to $114.9 per barrel.
Azerbaijan’s 2026 state budget is based on an average oil price of $65 per barrel.
