Azerbaijani oil sells at $44

Azeri LT CIF crude oil price dropped by $0,97 or 2,15% up to $44,17 a barrel.

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

Oil fell back to around $40 for WTI and $43 for Brent–familiar territory for the market over the past few weeks. The EIA’s data for this week was more downbeat, dashing hopes of positive momentum. Still, crude remains stable and steady at around $40, trapped between coronavirus fears on the downside, and improving fundamentals on the upside.