BAKU, Azerbaijan, September
22. The price of Azerbaijan’s Azeri Light crude
on a CIF basis at the Italian port of Augusta decreased by $5.54,
or 4.53%, compared with the previous figure, to $116.83 per
barrel.
According to information from oil market participants, the price
of Azeri Light on a FOB basis at the Turkish port of Ceyhan dropped
by $6.21, or 5.34%, to $110.09 per barrel.
The price of URALS crude fell by $6.53, or 7.67%, compared with
the previous figure, to $78.59 per barrel.
Meanwhile, the price of North Sea Dated Brent declined by $7.01,
or 5.59%, to $118.41 per barrel.
Azerbaijan's 2026 state budget is based on an average oil price
assumption of $65 per barrel.
According to the latest data from Trading Economics, crude oil
prices rose above $93 per barrel on Tuesday after falling for four
consecutive sessions, though they retained much of their earlier
losses amid easing concerns over Middle East supplies and
intensified diplomatic efforts to end the U.S.-Iran conflict.
"U.S. President Donald Trump is set to address the UN General
Assembly in New York today and may meet with Iranian President
Masoud Pezeshkian on the sidelines of the event. Trump is also
expected to hold discussions this week with other Gulf nations and
Chinese President Xi Jinping.
Meanwhile, the Trump administration has proposed establishing a
$5 billion fund to help rebuild infrastructure in the Middle East
damaged by the war.
For its part, Saudi Arabia has shipped 2.9 million barrels of
crude oil per day through the Strait of Hormuz over the past six
days.
Satellite imagery also revealed the presence of supertankers
with a combined capacity of 14 million barrels at Saudi Arabia's
oil export terminals on the Gulf coast over the weekend. This
marked the highest number of tankers observed since at least June,"
reports Trading Economics.
