Oil price
In the beginning of the last week [13-17 Feb] the fuel market fell, continuing the trend of the previous week, when the oil futures oil process in London and New York fell 5%. The futures prices for fuel mazut in New York Mercantile Exchange (NYMEX) dropped 7.8% as a result of last week, while the futures prices of petrol at NYMEX 13.1%. Sharp fall in prices was linked with movement of spirits in the market: the attention of the participants in the trading sessions pushed out the major factor of the year Iran with its nuclear program to another factor big fuel commodity reserves of the United States. Fall in oil prices interwined with the fall in futures prices of metal and other goods, which caused suppositions on mass outcomes of speculative funds with the commodity markets under correction, or dramatic commentaries by analysts.
As to demand for oil in 2006, in accordance with the February forecasts of the organization this year average demand for oil will comprise 28.49 million barrels a day. A report by OPEC predicted it at 28.69 million barrels a day. As of per quartile forecasts of OPEC, in the first quarter of 2006 the average demand for oil will compromise 30.16 million barrels a day, in the second quarter 27.62 million barrels, in the third quarter 27.87 million barrels a day and in the fourth quarter 28.34 million barrels a day.
Currency market
On the results of the previous week the official rate of AZN against USD set by the National Bank of Azerbaijan (NBA) has not changed. The average rate for five weekdays of the passed week was set at the level of 0,91396 AZN for 1 USD.
The maximal rate of USD last week against AZN was set on 13,14,16,17 February (0,914 AZN per 1 USD), minimal - on 15 February (0,9138 AZN for 1 USD).
On the results of the passed week the exchange rate of AZN against USD, set by the results of auction at the Baku Inter-bank Currency Exchange (BICE) dropped for 0,0002 manat points or 0,0022%. The average rate for five weekdays of the previous week was set at the level of 0,91384 AZN for 1 USD.
The maximal rate of USD against AZN last week was set on 14 and 10 February (0,914 AZN per 1 USD), minimal on 15 February (0,9136 AZN for 1 USD).
No deal with Russian ruble and euro was concluded
Privatization share market
The prices of privatization shares remained unchanged in this period.
