Azerbaijani Oil Price Takes Nosedive

2025-06-25 02:05:47

(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 25. The price of Azerbaijan's Azeri Light crude oil on a CIF basis in the Italian port of Augusta on June 24 decreased by $7.96 (9.94 percent) compared to the previous rate, now sitting at $72.12 per barrel, Trend reports, citing a source in the country's oil and gas market.

On an FOB basis in the Turkish Ceyhan port, the price of Azeri Light went down by $7.92 (10.06 percent) to $70.8 per barrel.

In the interim, the valuation of URALS crude experienced a decline of $8.3 (12.91 percent) relative to the antecedent rate, culminating in a price point of $55.97 per barrel.

The North Sea benchmark crude, specifically Dated Brent, dropped by $8.54, or 11 percent, from the preceding valuation, culminating in a settlement price of $69.12 per barrel.

The average price of a barrel of oil in the state budget of Azerbaijan for 2025 is estimated at $70.

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