BAKU, Azerbaijan, September 9. The CIF price of
Azerbaijan's Azeri Light crude at Italy's Augusta port increased by
$0.87, or 0.81%, from the previous level to $108.18 per barrel, a
source in the oil market told Trend.
FOB price of Azeri Light crude at Ceyhan port in Türkiye went up
by $0.76, or 0.73%, to $104.99 per barrel.
The price of Urals crude grew by $0.35, or 0.43%, from the
previous level to $81.95 per barrel.
Meanwhile, the price of North Sea “Dated Brent” crude rose by
$2.17, or 2.04%, to $108.68 per barrel.
Azerbaijan's 2026 state budget is based on an average oil price
assumption of $65 per barrel.
According to Trading Economics, crude oil prices rose above $94
a barrel on Wednesday, hitting a three-month high, after Iran said
it had attacked two U.S. ships and eight oil tankers in the Persian
Gulf.
"The escalation has raised concerns about more serious
disruptions to global oil supplies.
Tehran has also fired ballistic missiles towards Jordan and
warned ships in the Persian Gulf to "immediately abandon their
ships."
The latest attacks come after the U.S. struck five Iranian
tankers near the island of Kharq, Iran's main oil export hub.
On the other hand, the Iran-backed Houthis have targeted energy
infrastructure in southern Saudi Arabia, including the
400,000-barrel-per-day Jizan refinery.
Meanwhile, rising demand for oil in China is pushing up prices
for crude from Africa, Canada and Latin America. The disruptions in
the Strait of Hormuz have prompted refiners to seek alternative
sources of supply and turn to more distant markets," the report
said.
