BAKU, Azerbaijan, July 2. The price of Azerbaijan’s Azeri Light crude at Italy’s Augusta port, on a CIF (Cost, Insurance, and Freight) basis, decreased by $2.88, or 3.9%, on July 1 from the previous level, coming in at $72.46 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 $2.85, or 3.9%, to $69.98 per barrel.
The price of URALS crude dropped by $3.3, or 7.5%, to $40.72 per barrel, while Brent Dated crude from the North Sea fell by $2.73, or 3.8%, to $68.79 per barrel.
Azerbaijan’s 2026 state budget is based on an average oil price of $65 per barrel.
