BAKU, Azerbaijan, October 15. The price of
Azerbaijani “Azeri Light” crude oil on CIF terms at the Italian
port of Augusta fell by $3.73, or 2.92%, compared to the previous
figure, reaching $124.14 per barrel, a source in the oil market
told Trend.
According to the information, the price of a barrel of “Azeri
Light” crude on FOB terms at the Turkish port of Ceyhan fell by
$3.72, or 3.19%, to $112.79.
The price of Urals crude fell by $2.33, or 2.72%, compared to
the previous figure, reaching $83.45 per barrel.
The price per barrel of Dated Brent crude, produced in the North
Sea, fell by $2.97, or 2.28%, compared to the previous figure,
reaching $127.55.
Azerbaijan’s 2026 state budget assumes an average oil price of $65
per barrel.
According to Trading Economics, oil prices approached the
$94-per-barrel mark on Thursday, likely due to a technical
correction and profit-taking by investors following five
consecutive sessions of price gains.
"Investors also reacted to reports that the United States is
considering easing sanctions on ships carrying oil and petroleum
products from countries such as Russia, Iran, and Venezuela, which
are part of the so-called ‘shadow fleet’, in an effort to lower
record-high global freight rates.
However, the sinking of a container ship in the Strait of Hormuz
on Wednesday after it was struck by unidentified missiles
heightened concerns about supplies. At the same time, Iran-backed
Houthis continue to launch missile and drone attacks on Saudi
Arabia.
Russia also accused Ukraine of attacking two oil refineries on
Wednesday, including the Ryazan refinery with a capacity of 400,000
barrels per day. Moscow claims that the attacks violated the
“energy truce” announced by U.S. President Donald Trump," the
report states.
