Azeri Light crude oil surpasses $47

The price of Azeri Light crude oil went up $ 1,71 or 3,76% to settle at $ 47,16 a barrel.

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

Notablty, oil prices gained Wednesday to their highest levels since March after the US Energy Information Administration reported that crude inventory fell last week. 

US commercial crude oil inventories decreased by 7.4 million barrels in the week ending July 31, the EIA said Wednesday. Analysts had expected a much smaller draw of 2.3 million barrels. 

West Texas Intermediate crude gained 4.4% to $43.52 per barrel, while international benchmark Brent crude rose 4.1% to $46.23 per barrel at intraday highs.