Trend's price report, published at 09:32 Baku time on Tuesday, has Azeri Light at $127.29 CIF Augusta, up 6.1%, at $121.71 FOB Ceyhan, up $7.13, Urals at $96.94, up $6.41 or 7.1%, and Dated Brent at $129.28, up 9%. Trend attributes the rise to heightened uncertainty over world supplies, the disruption of Saudi Arabia's East-West pipeline and delays in the diplomacy over the Strait of Hormuz. The previous points in the same series: $120.02 in the print of Friday 12 September and a weekly average of $113.67 for 7 to 11 September.
The futures market moved less. November Brent on ICE traded at $107.44 at 08:14 Moscow time on Tuesday and near $106 at 14:18, Interfax reported, with October WTI at $103.31 and then $102.40. The Moscow Times's Reuters relay at 15:43 has Brent up 1% at $106.74 and gives the cause: Iran-backed Houthi strikes on Saudi infrastructure put the kingdom's key pipeline out of action, a line the relay sizes at 'up to 4% of supply on the world market', with Goldman Sachs putting the outage at anything from a few days to eight weeks; the talks between Gulf Arab states and Iran on the passage of ships through Hormuz, scheduled for Monday, were cancelled. Dated Brent is a physical assessment and the ICE contract is a futures price; the two series are different numbers.
For Baku the print is 96% above the $65 a barrel in the 2026 budget. For Astana, where the budget law is written at $60 and 540 tenge to the dollar and the National Bank's baseline at $89, the price arrives in a year when oil output fell 8.4% in 8 months; the tenge closed Tuesday's session on KASE at 447.88 to the dollar, 0.06 tenge stronger than on Monday, Informburo reported.
The futures market moved less.
Trend's Wednesday print had not been published by 09:15 Baku time. The next dates on the region's oil calendar are the close of KazMunayGas's dollar tender window on 18 September and the OPEC+ producers' meeting on 4 October.