Azeri Light oil price nears $ 46

The price of Azerbaijan's Azeri LT CIF crude oil traded in the financial markets has risen by $0.07 or 0.15%, settling at $45,92 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).

Brent crude price rose by 0.40% during the Asian session as traders reacted to the United States' falling inventories. Brent and the West Texas Intermediate (WTI) has increased by 0.60% and 0.90% and is trading at $45.95 and $43.13.
In a statement yesterday, the American Petroleum Institute (API) showed that crude oil inventories declined by more than 6.3 million barrels in the US. That was a sharper decline than the 1.95 million that analysts were expecting. It was also better than the previous week's decline of more than 4.5 million barrels.