BAKU, Azerbaijan, October 3. The price of
Azerbaijan's Azeri Light crude oil on a CIF basis at Italy's
Augusta port decreased by $0.75, or 0.6%, from the previous figure
to $124.01 per barrel, a source in the oil market told Trend.
Meanwhile, the price of one barrel of Azeri Light on a FOB basis
at Türkiye's Ceyhan port decreased by $2.59, or 2.2%, to
$114.74.
The price of URALS crude oil decreased by $1.37, or 1.6%, from
the previous figure to $85.85 per barrel.
The price of one barrel of Dated Brent crude oil produced in the
North Sea decreased by $0.15, or 0.1%, to $126.96.
The average oil price in Azerbaijan's state budget for 2026 is
set at $65 per barrel.
According to the latest data from Trading Economics, the price
of one barrel of crude oil stood at around $93 on Friday.
"Oil prices remained at this level after rising for two
consecutive trading sessions amid reports that the US is
considering sending another aircraft carrier to the Middle East.
The move increases the likelihood of a further expansion of the war
with Iran and additional disruptions to energy supplies from the
region.
The Pentagon is also considering deploying up to 10,000 sailors
and Marines to the Persian Gulf. This could give US President
Donald Trump additional options if he decides to intensify attacks
against Iran.
According to reports, Trump told his aides that he expects
bombing of Iran to resume after the midterm elections scheduled for
November.
The latest escalation in tensions comes as crude oil supplies
from the Middle East have largely returned to pre-war levels.
However, markets are questioning the sustainability of this
recovery without a long-term agreement to end the conflict.
At least three tankers came under attack while transiting the
Strait of Hormuz this week. In addition, Iran and its Houthi allies
carried out strikes on oil refineries in various parts of the
region," Trading Economics notes.
