Price of Azerbaijani oil exceeds $125
The price of Azerbaijani Azeri Light crude on a CIF basis at the Italian port of Augusta rose by $4.51, or 3.7 percent, compared with the previous figure, reaching $125.19 per barrel.
This was stated in information from oil market participants.
It is noted that the price of one barrel of Azeri Light crude on a FOB basis at the Turkish port of Ceyhan increased by $4.68, or 4.3 percent, to $114.56.
The price of URALS crude increased by $3.68, or 4.5 percent, compared with the previous figure, reaching $84.64 per barrel.
The price of Dated Brent crude, produced in the North Sea, rose by $5.18, or 4.2 percent, compared with the previous figure, reaching $129.09 per barrel.
Azerbaijan's state budget for 2026 is based on an average price of $65 per barrel of oil.
According to the latest data from Trading Economics, Brent crude prices rose above $102 per barrel on Thursday, recouping the previous session's losses, following reports that the Trump administration had instructed the Pentagon to draw up options for strikes on Iran that could be carried out before the U.S. midterm elections. It is noted that this decision runs counter to widespread expectations that President Donald Trump would refrain from further escalating tensions with Tehran ahead of the November elections.
"Meanwhile, oil producers in the Gulf of Mexico have suspended production of more than 510,000 barrels of oil per day, about a quarter of the region's output, because of tropical storm Isaias.
In the Middle East, oil exports have gradually been returning in recent weeks to levels seen before the start of the war, but attacks on tankers in the Strait of Hormuz continue to pose a threat to supplies.
Iran-backed Houthis have also attacked facilities in Saudi Arabia, which has led to a new wave of strikes by the Riyadh-led coalition on positions in Yemen," the Trading Economics information states.
