Azeri Light crude nears $57

Azeri LT CIF crude oil, exported from Azerbaijan to the world markets, increased by $0.45 (+0.80%), settling at $56.84 per barrel.

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 fell on Thursday after data showed U.S. crude stocks unexpectedly rose last week, reigniting worries about pandemic restrictions cutting into fuel demand.

U.S. West Texas Intermediate (WTI) crude futures fell 27 cents, or 0.5%, to $53.04 a barrel at 0147 GMT, following two days of gains on hopes of massive COVID-19 relief spending under new U.S. President Joe Biden.

Brent crude futures similarly dropped 26 cents, or 0.5%, to $55.82 a barrel.