Azeri Light oil price goes up

The price of Azerbaijan's Azeri LT CIF crude oil traded in the financial markets has risen by $0.14 or 0.3%, settling at $45,85 per barrel, Report informs.

Notably, the record low of Azeri LT CIF was registered in December 2001 ($19.15), and the all-time high recorded in July 2008 ($149.66).

Oil prices inched lower on Friday as Hurricane Laura passed the heart of the U.S. oil industry in Louisiana and Texas without causing widespread damage, and companies began to restart operations.

Brent crude futures for October fell 4 cents to settle at $45.05 a barrel, before expiring on Friday. U.S. West Texas Intermediate (WTI) crude fell 7 cents to $42.97 a barrel.
Both benchmarks notched weekly gains of about 1.5%, with WTI rising for a fourth straight week. The benchmarks hit five-month highs during the week as U.S. producers cut crude output ahead of Laura at a rate close to the level of 2005's Hurricane Katrina.