Azerbaijani oil prices increase

Azerbaijani oil prices increase

The price of the AZERI LT CIF oil amounted to $76.40 per barrel today, an increase of $0.22, novosti.az reported.

At the same time, September Brent crude futures fell 25 cents (0.3%) to $74.72 a barrel by 0654 GMT after rising nearly 1% on Monday. The September contract expires later on Tuesday and the more-active October contract was down 0.3% at $75.35.

U.S. West Texas Intermediate crude futures (WTI) were down 24 cents (0.3%) at $69.88 a barrel, after rising more than 2% in the previous session, Reuters reported.

For the month, Brent futures are set to drop about 6%, the most since July 2016, while WTI futures set to decline 5.8 percent, the biggest monthly drop since October 2017.

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