Azeri LT CIF crude oil, exported from Azerbaijan to the world markets, increased $ 0.19 (+0.37%), settling at $ 51.09 per barrel, Report informs.
The lowest price for Azeri Light was recorded on April 21, 2020 ($ 15.81), and the all-time high of $ 149.66 was fixed in July 2008.
Both Brent and WTI were down on Tuesday afternoon before the data release, despite earlier vaccine optimism and a new stimulus package that was approved in the United States. Dragging on oil prices is a new strain of Covid-19 that caused massive border closures throughout the world to contain the spread of the mutated strain.
In the run-up to Tuesday's data release, at 2:15 p.m. EDT, WTI had fallen by $0.78 (-1.63%) to $47.19, down $.30 per barrel on the week. The Brent crude benchmark had fallen on the day $0.62 at that time (+1.22%) to $50.29—down nearly $0.40 per barrel on the week.
U.S. oil production fell to
The API reported a small draw in gasoline inventories of 224,000 barrels of gasoline for the week ending December 18—compared to the previous week's 828,000-barrel build. Analysts had expected a