Crude price on world markets
The price of oil changed in different directions in the world markets.
On the New York Stock Exchange NYMEX (New York Mercantile Exchange) cost of the US Light crude oil increased $0.48 to stand at $27.46.
Price of the Brent crude oil at the London ICE (InterContinental Exchange Futures) rose $0.88 to trade at $31.52.
SOCAR reported that the price of a barrel of Azeri Light crude oil decreased $1.02 to stand at $30.43 on the world markets.
Brent prices averaged $31 a barrel in January, a $7 a barrel decrease from December and the lowest monthly average price since December 2003, according to the EIA’s estimates.
EIA’s estimates show that Brent prices averaged $52 a barrel in 2015, down $47 a barrel from the average in 2014.
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