Azeri LT CIF crude oil price rose by $ 0.34 or 0.81% up to $ 42.46 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 dropped on Thursday, weighed down by concerns that U.S. economic recovery is slowing as the coronavirus outbreak lingers. Simultaneously, a renewed wave of COVID-19 cases in Europe has led to reimposed travel restrictions in several countries.
The jitters over demand and economic outlook due to the coronavirus resurgence have prompted a rally in the dollar as investors turned to safer assets, adding pressure to oil prices. A stronger dollar makes oil, priced in U.S. dollars, less attractive to global buyers.
Both benchmarks climbed slightly on Wednesday after government data showed U.S. crude and fuel stockpiles dropped last week. Gasoline inventories fell more than expected, sliding by 4 million barrels, and distillate stockpiles posted a surprise drawdown of 3.4 million barrels.