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The CIF price of Azerbaijan’s Azeri Light crude oil at Italy’s Augusta port increased by $0.77, or 1.12%, reaching $69.24 per barrel.
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Simultaneously, the FOB price for Azeri Light crude at Türkiye’s Ceyhan port climbed $0.80, or 1.19%, to $67.93 per barrel.
Other major crude benchmarks also saw gains: URALS crude rose by $0.71, or 1.32%, to $54.48 per barrel, while North Sea’s Dated Brent crude advanced $0.72, or 1.08%, hitting $67.24 per barrel.
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Azerbaijan’s state budget for 2025 has been formulated based on an average oil price of $70 per barrel, underscoring the importance of these price movements for the country’s fiscal planning.
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