BAKU: The cost of Azerbaijani oil saw a notable increase as the price of Azeri Light crude oil rose by $1.31, reaching $75.63 per barrel at the Italian port of Augusta, according to CIF pricing on October 25. This increase marks a continued upward trend in the pricing of Azerbaijani crude oil products.

According to Trend News Agency, the Azeri LT FOB Ceyhan price also experienced a rise of $1.32, bringing it to $75.16 per barrel. This increase parallels the price movement of URALS crude, which also saw a $1.32 uptick, settling at $63.56 per barrel. Similarly, the North Sea’s Dated Brent oil rose by $1.32, with its price reaching $75.84 per barrel on October 25.

The official exchange rate on October 26 was reported as 1.7 AZN/1 USD, further impacting the financial dynamics of the oil market in the region. These price changes reflect broader trends in the global oil market, influenced by various geopolitical and economic factors.