Azeri Light crude exceeds $ 60
Azeri LT CIF crude oil, exported from Azerbaijan to the world markets, increased $ 1.12 (+1.9%), settling at $ 60.51 per barrel, Report informs.
The lowest price for Azeri Light was recorded on April 21, 2020 ($ 15.81), and the all-time high of $149.66 was fixed in July 2008.
Oil prices rose about 1% on Friday, after hitting their highest in a year and closing in on $60 a barrel, supported by economic revival hopes and supply curbs by producer group OPEC and its allies.
Oil was also supported as U.S. stock markets hit record highs on signs of progress toward a more economic stimulus. At the same time, a U.S. jobs report confirmed the labor market was stabilizing.
Brent crude ended the session up US50 cents, or 0.9%, at $59.34 after hitting its highest since February 20 at $59.79. U.S. crude settled up 62 cents, or 1.1%, at $56.85, after reaching $57.29, its highest since January 22 last year.
U.S. crude futures gained about 9% this week, the biggest percentage gain since October, in part due to U.S. inventories last week dropping to levels last seen in March.
Brent rose about 6% for the week.