The price of Azerbaijan’s Azeri Light crude oil on a CIF basis in the Italian port of Augusta increased on February 27 by $1.06 (1.4 percent) compared to the previous rate, now sitting at $76.24 per barrel, AzVision.az reports, citing a source in the country's oil and gas market.
On a FOB basis in the Turkish port of Ceyhan, the price of Azeri Light went up by $1.1 (1.49 percent) to $73.9 per barrel.
The price of URALS crude hiked by $1.48 (2.58 percent) from the previous rate, amounting to $58.92 per barrel.
North Sea benchmark crude, Dated Brent, was $1.14 (1.56 percent) more than the previous rate, standing at $74 per barrel.
The official exchange rate for February 28 is 1.7 AZN/USD.
In the state budget of Azerbaijan for 2025, the average price of one barrel of oil was calculated at $70.
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