Azeri Light exceeds $ 42

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Azeri LT CIF crude oil, exported from Azerbaijan to the world markets, increased $ 0.87 (+2.1%), settling at $ 42.57 per barrel.

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

Oil prices edged higher on Thursday, extending their 2% gains from the previous session after data showed U.S. crude stockpiles fell last week, while OPEC and its allies were seen complying with their pact to curb output in September.

U.S. West Texas Intermediate (WTI) crude CLc1 futures climbed 8 cents, or 0.2%, to $41.12 a barrel at 0430 GMT, while Brent crude LCOc1 futures rose 7 cents or 0.2% to $43.39 a barrel.

Oil markets climbed for a third day despite a resurgence in COVID-19 infections across Europe, potentially denting fuel demand.

“The energy markets are certainly marching to their drummer at the moment,” said Michael McCarthy, chief market strategist at CMC Markets and Stockbroking, adding that recent oil price volatility may have attracted more trader positions.