BAKU, Azerbaijan, May 12. The price of
Azerbaijan’s Azeri Light crude at Italy’s Augusta port, on a CIF
(Cost, Insurance, and Freight) basis, grew by $0.5, or 0.45%, on
May 11 from the previous level, coming in at $110.48 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 $0.59, or 0.55%, to $107.6 per barrel.
The price of URALS crude increased by $0.36, or 0.42%, to $86.21
per barrel, while Brent Dated crude from the North Sea rose by
$0.52, or 0.5%, to $105.24 per barrel.
Azerbaijan’s 2026 state budget is based on an average oil price
of $65 per barrel.
