Baku: In Italy's Augusta port, the price of Azerbaijan's Azeri Light crude oil on a CIF basis rose by $0.21, or 0.31 percent, reaching $68.34 per barrel, a source in the oil market told Trend.

According to Trend News Agency, at Trkiye's Ceyhan port, the price of Azeri Light crude on an FOB basis increased by $0.22, or 0.33 percent, to $66.83 per barrel. In contrast, the price of URALS crude oil slightly decreased by $0.03, or 0.05 percent, to $55.12 per barrel. Additionally, the North Sea Dated Brent crude experienced a minor decline of $0.03, or 0.04 percent, bringing its price to $67.32 per barrel.

Azerbaijan's state budget for 2025 is set based on an average oil price of $70 per barrel, indicating the strategic financial planning of the nation in response to fluctuating oil prices globally.