Azerbaijani Azeri Light oil shifts down in price

The price of Azerbaijan’s Azeri Light crude on a CIF basis at the Italian port of Augusta decreased by $5.54, or 4.53%, compared with the previous figure, to $116.83 per barrel.

The price of Azeri Light on a FOB basis at the Turkish port of Ceyhan dropped by $6.21, or 5.34%, to $110.09 per barrel.

The price of URALS crude fell by $6.53, or 7.67%, compared with the previous figure, to $78.59 per barrel.

Meanwhile, the price of North Sea Dated Brent declined by $7.01, or 5.59%, to $118.41 per barrel.

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