Azerbaijani oil Azeri Light price surpasses 128 dollars

The CIF price of Azerbaijan's Azeri Light crude at Italy's Augusta port increased by $0.74, or 0.58%, from the previous level to $128.03 per barrel, a source in the oil market said.

FOB price of Azeri Light crude at Ceyhan port in Türkiye also went up by $0.74, or 0.61%, to $122.45 per barrel.

The price of Urals crude decreased by $1.8, or 1.86%, from the previous level to $95.14 per barrel.

Meanwhile, the price of North Sea “Dated Brent” crude rose by $2.91, or 2.25%, to $132.19 per barrel.

Azerbaijan's 2026 state budget is based on an average oil price assumption of $65 per barrel.