Baku: The price of Azerbaijan’s Azeri Light crude has decreased at two significant ports. At Italy’s Augusta port, the price, based on a CIF basis, fell by $1.18 or 1.74 percent, settling at $66.51 per barrel. At Trkiye’s Ceyhan port, the FOB price for the same crude dropped by $1.17 or 1.78 percent, reaching $64.43 per barrel.

According to Trend News Agency, the market also saw a decline in other crude prices. The URALS crude price decreased by $2.17 or 4.4 percent, arriving at $47.14 per barrel. Meanwhile, Brent Dated crude from the North Sea saw a reduction of $1.16 or 1.83 percent, bringing it to $62.38 per barrel.

Azerbaijan’s state budget for the year 2025 has been calculated with an average oil price of $70 per barrel in mind.