Azeri Light oil price goes up

Azeri LT CIF crude oil price rose by $ 0.67 or 1,62% up to $ 42.12 a barrel, Report says.

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

Oil prices fell on Wednesday after an industry group reported a surprise rise in U.S. crude, adding worries about a demand that led to a steep selloff earlier in the week.

Brent crude was trading down 30 cents, or 0.7%, at $41.42 a barrel by 0347 GMT, after gaining 28 cents on Tuesday, while U.S. crude dropped 34 cents, or 0.9%, to $39.46.

Both contracts fell more than 4% on Monday, the most in two weeks.

Surging cases of coronavirus infections in countries including France and Spain, along with the likelihood of more restrictions in Britain, have renewed worries about fuel demand, just as more supply may come onto the market from Libya.