BAKU, Azerbaijan, September 10. The CIF price
of Azerbaijan's Azeri Light crude at Italy's Augusta port increased
by $5.14, or 4.75%, from the previous level to $113.32 per barrel,
a source in the oil market told Trend.
FOB price of Azeri Light crude at Ceyhan port in Türkiye went up
by $4.88, or 4.65%, to $109.87 per barrel.
The price of Urals crude grew by $3.65, or 4.45%, from the
previous level to $85.60 per barrel.
Meanwhile, the price of North Sea “Dated Brent” crude rose by
$5.58, or 5.13%, to $114.26 per barrel.
Azerbaijan's 2026 state budget is based on an average oil price
assumption of $65 per barrel.
According to Trading Economics, oil prices remained above $96
per barrel on Thursday, trading near their highest level since May.
The increase was attributed to growing concerns over potential
disruptions to energy supplies from the Middle East amid escalating
tensions between the United States and Iran.
“Iran has announced that it is prepared for a broader
confrontation, said it would resist the U.S. naval blockade and
warned that it would intensify attacks if U.S. strikes on Iranian
territory continue.
U.S. President Donald Trump predicted that the conflict would
end after the November midterm elections and said a significant
decline in gasoline prices was unlikely before then. The remarks
indicated that the likelihood of tensions easing in the near term
remains limited.
After nearly a month of relative calm, the confrontation
intensified again over the past week, with both sides increasing
their attacks. The conflict expanded further after Iran-backed
Houthis attacked several energy facilities in Saudi Arabia. Some
facilities were temporarily shut down following the attacks,” the
report notes.
