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Azerbaijani oil rises in price

Price of Azerbaijani Azeri Light oil on the basis of CIF (cost, insurance and freight) in Italian port of Augusta increased by $0.61 compared to the previous figure and amounted to $118.78 per barrel on March 4, Trend reports via a source in Azerbaijan’s oil and gas market.

Price of Azeri Light increased by $0.67 to $116.81 per barrel based on FOB in the Turkish port of Ceyhan.

Cost of Urals oil sold by Azerbaijan from the Russian Black Sea port of Novorossiysk through the Baku-Novorossiysk pipeline, decreased by $5.09 compared to the previous figure, amounting to $85.44 per barrel.

Price of a barrel of Brent Dated oil extracted from the North Sea was raised by $0.39 compared to the previous figure – to $120.23 per barrel on March 4.

Official exchange rate is 1.7 AZN/USD on March 5.

 

Source: TREND News Agency