BAKU, Azerbaijan, September 15. The CIF price
of Azerbaijan's Azeri Light crude at Italy's Augusta port increased
by $7.27, or 6.06%, from the previous level to $127.29 per barrel,
a source in the oil market told Trend.
FOB price of Azeri Light crude at Ceyhan port in Türkiye went up
by $7.13, or 6.22%, to $121.71 per barrel.
The price of Urals crude grew by $6.41, or 7.08%, from the
previous level to $96.94 per barrel.
Meanwhile, the price of North Sea “Dated Brent” crude rose by
$10.72, or 9.04%, to $129.28 per barrel.
Azerbaijan's 2026 state budget is based on an average oil price
assumption of $65 per barrel.
According to Trading Economics, the price of crude oil rose
above $103 per barrel on Tuesday. It was reported that this
occurred amidst volatility earlier in the week. "Investors continue
to assess growing uncertainty regarding global oil supplies.
Saudi Arabia's East-West oil pipeline—which provides an
alternative route to the Strait of Hormuz—remains shut down
following drone attacks. There is currently no precise information
on when the pipeline will resume operations.
Meanwhile, a planned diplomatic meeting between Iran and Gulf
states to discuss the situation in the Strait of Hormuz has been
abruptly postponed.
Iran also reported that a supertanker exploded after striking a
mine while attempting to enter restricted waters. Tehran further
declared that it would not engage in negotiations with the U.S.
until its demands are met.
In Eastern Europe, Ukrainian President Volodymyr Zelenskyy
stated that Kyiv is prepared to halt attacks on Russian energy
facilities, provided Russia takes the same step. This statement
contradicts U.S. President Donald Trump's claim that Moscow and
Kyiv had already agreed to stop striking each other's energy
infrastructure," the report noted.
