Azerbaijani oil prices decrease

The price for Azerbaijani Azeri Light oil on CIF basis in the Italian port of Augusta on August 18 decreased by $0.14 and amounted to $89.25 per barrel, Azernews reports, referring to the source from the country's oil and gas market.

The price of Azerbaijani Light on FOB base in the Turkish port of Ceyhan amounted to $88.25 per barrel, down by $0.14 compared to the previous price.

Azerbaijan also sells its URALS oil from the Russian Black Sea port of Novorossiysk, delivering it through the Baku-Novorossiysk pipeline. The price of URALS with shipment from the port equaled $70.74 per barrel, down by $0.25 as compared to the previous price.

Meanwhile, the cost of a barrel of Brent Dated oil, produced in the North Sea, declined by $0.27 compared to the previous price and made up $85.76 per barrel on August 18.

The official rate is 1.7 AZN/1 USD on August 19.