The price of Azerbaijan’s Azeri Light crude oil has risen above $113 per barrel on a CIF basis at Italy’s Augusta port.
According to information provided by oil market participants, the price of Azeri Light increased by $5.14, or 4.75%, compared with the previous indicator, reaching $113.32 per barrel.
On an FOB basis at Turkiye’s Ceyhan port, the price of Azeri Light rose by $4.88, or 4.65%, to $109.87 per barrel.
Meanwhile, the price of Russian Urals crude increased by $3.65, or 4.45%, to $85.60 per barrel.
The price of North Sea Dated Brent also rose significantly, increasing by $5.58, or 5.13%, to $114.26 per barrel.
At $113.32 per barrel on a CIF basis at Augusta, Azeri Light was trading $0.94 below Dated Brent, while its Ceyhan FOB price was $4.39 below the benchmark.
The Azerbaijani state budget for 2026 was calculated based on an average oil price of $65 per barrel.