Baku: The price of Azerbaijan’s Azeri Light crude at Italy’s Augusta port, on a CIF basis, grew by $0.71, or one percent, from the previous level to $71.25 per barrel, a source in the oil market told Trend.

According to Trend News Agency, at Trkiye’s Ceyhan port, the FOB price of Azeri Light crude went up by $0.7, or 1.01 percent, to $69.76 per barrel. The price of URALS crude rose by $0.54, or 0.94 percent, to $58.01 per barrel, while Brent Dated crude from the North Sea grew by $0.52, or 0.75 percent, to $69.43 per barrel.

Azerbaijan’s 2025 state budget is based on an average oil price of $70 per barrel.