Azeri Light crude oil surpasses $45


The price of Azeri Light crude oil went up $ 0,61 or 1,37% to settle at $ 45,11 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, oil prices were up on Wednesday as an estimated US crude oil inventory decline alleviates market concerns over a supply glut rise.
International benchmark Brent crude was trading at $43.77 per barrel at 0630 GMT on Wednesday for a 1.27% gain after closing Tuesday at $43.22.

American benchmark West Texas Intermediate was at $41.12 a barrel at the same time for a 0.19% increase after ending the previous session at $41.04 per barrel.

American Petroleum Institute (API) announced late Tuesday its forecast of a decline in US crude oil inventories by 6.8 million barrels for the week ending July 24.