BAKU, Azerbaijan, September 8. The CIF price of
Azerbaijan's Azeri Light crude at Italy's Augusta port increased by
$3.11, or 2.98%, from the previous level to $107.31 per barrel, a
source in the oil market told Trend.
FOB price of Azeri Light crude at Ceyhan port in Türkiye went up
by $3.18, or 3.15%, to $104.23 per barrel.
The price of Urals crude grew by $3.34, or 4.27%, from the
previous level to $81.6 per barrel.
Meanwhile, the price of North Sea “Dated Brent” crude rose by
$5.67, or 5.62%, to $106.51 per barrel.
Azerbaijan's 2026 state budget is based on an average oil price
assumption of $65 per barrel.
Crude oil prices remained above $92 a barrel on Tuesday,
hovering around a three-month high, as Iran said it was nearing the
end of a deal with Oman to control shipping through the Strait of
Hormuz, fueling concerns that Tehran was gaining control of the
strategic waterway, according to Trading Economics.
"Market participants are also closely watching Washington's next
move after the U.S. attacked Iranian tankers in the Strait of
Hormuz over the weekend.
Oil prices rose by about 10% last week as renewed fighting
between the U.S. and Iran raised concerns about potential
disruptions to energy supplies from the Middle East. Both sides
intensified their attacks over the weekend, targeting ships and
naval assets around the Strait of Hormuz.
Saudi Aramco's facilities in the Red Sea city of Jizan were also
attacked again on Monday. However, the damage to the facilities was
limited.
Despite the increased risks, oil supplies from the Persian Gulf
continue. About 7 million barrels of crude oil and petroleum
products are transported through the Strait of Hormuz every day,"
the report said.
