Wedoany.com Report-Apr. 18, The price of Azerbaijan’s Azeri Light crude oil, delivered on a CIF basis to the Italian port of Augusta, rose by $0.88, a 1.28 percent increase, reaching $69.34 per barrel, according to a source in Azerbaijan’s oil and gas market. 

In the Turkish port of Ceyhan, on an FOB basis, Azeri Light crude saw a $0.90 increase, equivalent to a 1.35 percent rise, bringing the price to $67.54 per barrel. 

The price of URALS crude oil also climbed, increasing by $0.87, or 1.65 percent, to $53.31 per barrel. Similarly, the North Sea’s Dated Brent crude oil gained $0.81, a 1.2 percent uptick, reaching $68.45 per barrel.

The official exchange rate on April 18 was 1.7 AZN to 1 USD. For Azerbaijan’s 2025 state budget, the average price of a barrel of oil is projected at $70.

These price adjustments reflect ongoing market dynamics in the global oil trade, with Azerbaijan’s Azeri Light maintaining a strong position among key crude oil benchmarks.