Azerbaijani Oil Valuation Picking Up Steam

(MENAFN- Trend News Agency) BAKU, Azerbaijan, July 8.​ The price of Azerbaijan's Azeri Light crude oil on a CIF basis in the Italian port of Augusta on July 7 grew by $0.53 (0.71 percent) compared to the previous rate, now sitting at $74.7 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 up by $0.54 (0.74 percent) to $73.46 per barrel.

In the interim, the valuation of URALS crude rose by $0.52 (0.9 percent) relative to the previous rate, resulting in a price point of $58.53 per barrel.

The North Sea benchmark crude, specifically Dated Brent, increased by $0.57, or 0.8 percent, from the preceding valuation, culminating in a settlement price of $71.3 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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