BAKU, Azerbaijan, July 5. The price of Azerbaijan’s Azeri Light crude oil on a CIF basis in the Italian port of Augusta on July 4 decreased by $0.51 (0.68 percent) compared to the previous rate, now sitting at $74.17 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 down by $0.51 (0.69 percent) to $72.92 per barrel.
In the interim, the valuation of URALS crude declined by $0.52 (0.89 percent) relative to the previous rate, resulting in a price point of $58.01 per barrel.
The North Sea benchmark crude, specifically Dated Brent, dropped by $0.41, or 0.58 percent, from the preceding valuation, culminating in a settlement price of $70.73 per barrel.
The average price of a barrel of oil in the state budget of Azerbaijan for 2025 is estimated at $70.