Azeri LT CIF sells for $44

The Azerbaijani crude oil price rose by $0.47 or 1.07% up to $44.36 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 prices rose on Friday and were on track for a monthly gain. A weaker dollar boosted them in the face of continuing concerns over the US economy’s recovery as the coronavirus ravages the world’s biggest economy and oil consumer.

Brent crude was up 31 US cents, or 0.7%, at $43.25 a barrel by 8.31 am GMT. On Thursday, Brent closed 1.9% down after touching its lowest since July 10. US crude gained 26c, or 0.6%, to $40.18 after dropping 3.3% in the previous session, also off lows not seen since July 10.

Brent is on track for the fourth month of gains, and US crude is heading for a third as both rises from depths hit in April when much of the world was in lockdown.