BAKU, Azerbaijan, July 3. The price of Azerbaijan’s Azeri Light crude at Italy’s Augusta port, on a CIF (Cost, Insurance, and Freight) basis, decreased by $0.65, or 0.9%, on July 2 from the previous level, coming in at $71.81 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 $0.66, or 0.9%, to $69.32 per barrel.
The price of URALS crude dropped by $1.15, or 2.8%, to $39.57 per barrel, while Brent Dated crude from the North Sea fell by $0.62, or 0.9%, to $68.17 per barrel.
Azerbaijan’s 2026 state budget is based on an average oil price of $65 per barrel.
