BAKU, Azerbaijan, July 3. The price of Azerbaijan’s Azeri Light crude oil on a CIF basis in the Italian port of Augusta on July 2 increased by $1.09 (1,5 percent) compared to the previous rate, now sitting at $73.61 per barrel, Trend reports, citing a source in the country's oil and gas market.
On an FOB basis in the Turkish Ceyhan port, the price of Azeri Light went up by $1.12 (1.57 percent) to $72.33 per barrel.
In the interim, the valuation of URALS crude experienced a growth of $1.12 (1.99 percent) relative to the antecedent rate, culminating in a price point of $57.44 per barrel.
The North Sea benchmark crude, specifically Dated Brent, surged by $1.14, or 1.66 percent, from the preceding valuation, culminating in a settlement price of $69.85 per barrel.
The average price of a barrel of oil in the state budget of Azerbaijan for 2025 is estimated at $70.