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Oil prices and dynamics of monetary market of Azerbaijan (Sept. 14-18)

Analysis Materials 22 September 2015 13:29 (UTC +04:00)

Oil market

The average price for AZERI LT, exported from Azerbaijan via the Ceyhan, Batumi and Supsa ports to the Italian Augusta port, was $49.19 per barrel on Sept. 14-18 or $0.43 per barrel less than the previous week.

The maximum price for AZERI LT was $50.75 per barrel and the minimum price was $47.95 per barrel during the reporting period.

The average price for Urals (Ex-Novo) exported from Azerbaijan via the Novorossiysk port stood at $45.882 per barrel or $1.068 per barrel less than the previous week.

The maximum price for Urals totaled $47.69 per barrel and the minimum - $44.94 per barrel.

Urals' density is 32 degrees API with sulfur content up to 1.3 percent. The oil grade's specifications vary when sold depending on its high/low-quality content.

The average price for Brent Dated was $47.156 per barrel or $0.504 per barrel less than the previous week.

The maximum price for Brent was $48.8 per barrel and the minimum - $45.94 during the reporting period.

Currency market

The official exchange rate of Azerbaijani manat to the US dollar set by Azerbaijani Central Bank, consolidated by 0.0002 manat (0.02 percent) last week. Accordingly, the average rate was set at 1.04758 manat to 1 US dollar.

During the week, the official exchange rate of manat to euro set by the CBA dropped by 0.044 manat (0.37 percent). Accordingly, the average rate was set at 1.18712 manat to 1 euro.

Last week, the price on one ounce of gold decreased by 28.6281 manats (2.484 percent). Accordingly, the average price for gold stood at 1164.82496 manats.

The trading at Baku Interbank Currency Exchange (BBVB) has not been carried out since the beginning of the year, so the exchange rate of manat is not formed.

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