Azeri LT CIF crude oil soars above $ 42

The price for Azeri LT CIF crude oil, exported from Azerbaijan to the world markets, increased $ 0.28 or 0.67%.

Report informs that Azeri Light has settled at $ 42.02 per barrel.

Oil prices fell on Tuesday, paring gains from the previous session, as persistent demand concerns due to the coronavirus pandemic outweighed hopes for a new U.S. stimulus package.

More than 1 million people have died of Covid-19 as of Tuesday, a Reuters tally showed, with fatalities and infections surging in several countries.

U.S. West Texas Intermediate crude futures dropped 22 cents, or 0.5%, to $40.38 at 0438 GMT.

The more-active Brent crude futures for December fell 19 cents, or 0.4%, to $42.68 a barrel. The November contract, which expires on Wednesday, fell 17 cents to $42.26 per barrel.