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Oil prices fall, and Azeri Light declines by $0.04

10.02.2020,11:09


February 10, Fineko/abc.az. Prices for oil of standard grades are falling on Monday amid a decrease in the probability of holding an extraordinary OPEC+ meeting.

Following the trading on 7 February at the London ICE Futures Exchange the price of April’s Brent oil futures fell by $0.46 (0.84%) to $54.47 per barrel. By 9:25 am Brent futures for April decreased by $0.08 (0.15%) to $54.39 per barrel.

At the end of trading on 7 February at the New York Mercantile Exchange (NYMEX), March’s WTI futures dropped by $0.63 (1.24%) to $50.32 per barrel. By 9:25 pm March’s futures of WTI decreased in price by $0.06 (0.12%) to $50.26 per barrel.

Azerbaijani oil Azeri Light declined in price by $0.04 (0.07%) to $60.62 per barrel.

An extraordinary meeting of OPEC+ ministers in connection with the coronavirus is not expected in February, Azerbaijani Energy Minister Parviz Shahbazov said.

"The situation has been analyzed once again and today it is such that the meeting of the ministers will not be held before the deadline, it will take place, as planned, in March," Shahbazov emphasized.