Azerbaijani Azeri Light oil price drops to 122 dollars

The CIF price of Azerbaijan's Azeri Light crude at Italy's Augusta port decreased by $5.88, or 4.59%, from the previous level to $122.15 per barrel, a source in the oil market said.

FOB price of Azeri Light crude at Ceyhan port in Türkiye went down by $5.83, or 4.76%, to $116.62 per barrel.

The price of Urals crude dropped by $7.44, or 7.82%, from the previous level to $87.80 per barrel.

Meanwhile, the price of North Sea “Dated Brent” crude fell by $5.73, or 4.33%, to $126.46 per barrel.

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