AUGUSTA – Azerbaijani oil prices experienced a noticeable increase on September 19, with the Azeri Light crude oil climbing $1.23 to settle at $78.2 per barrel at the Italian port of Augusta, according to recent market reports. The rise in prices also extended to Azeri LT FOB Ceyhan, which grew by $1.25 to $77.12 per barrel. This uptick in oil prices marks a significant development in the energy sector amid fluctuating global oil markets.

According to Trend News Agency, the increase in the cost of Azerbaijani Azeri Light crude oil was recorded based on CIF (Cost, Insurance, and Freight) at the Italian port of Augusta. This latest pricing follows the global trend of rising oil prices, with URALS crude also seeing an increase of $1.4, establishing a new price point at $62.7 per barrel. Similarly, the price for a barrel of Dated Brent oil, produced in the North Sea, went up by $1.5 to $76.58.

The price adjustments come as the oil market continues to react to global economic signals and supply adjustments. The latest prices are indicative of the broader trends affecting the oil industry, potentially impacting both consumer and industrial sectors across various regions.