Azerbaijani oil surpasses $44

Azerbaijani oil surpasses $44
The price of Azeri Light crude oil went up $ 0,51 or 1,16% to settle at $ 44,36 a barrel.

The lowest price of Azeri LT CIF was recorded on April 21, 2020 ($15.81), and the all-time high in July 2008 ($149.66).

Notably, crude-oil futures settled on a mixed note yesterday, with the U.S. oil moves pressured by the growth in coronavirus cases. Still, international prices are gaining on hopes of China’s perceived recovery from the pandemic.

Brent, the international benchmark oil, also was supported by Saudi Arabia’s decision to raise the premium of its benchmark grade crude, and all other grades, by $1 a barrel.

A blockade of oil-producing country Libya also remains in place, hindering exports from the North African producer, and helping to fuel expectations that supplies for crude may tighten more than expected.


www.ann.az

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