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Oil prices and dynamics of monetary market of Azerbaijan (July 7-11)

Analysis Materials 15 July 2014 14:14 (UTC +04:00)

Oil market

The average price of AZERI LT, exported from Azerbaijan via the Ceyhan, Batumi and Supsa ports to Italian Augusta port, was $110.28 per barrel on July 7-11, or $2.68 less compared to the previous week.

The maximum price for AZERI LT was $112.05 per barrel, while the minimum price stood at $108.76 per barrel.

The average price of Urals (Ex-Novo) exported from Azerbaijan via the Novorossiysk port, was $105.19 per barrel, or almost $2.74 less compared to the previous week.

The maximum price for Urals was $107.07 per barrel, and the minimum - $103.5 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 on Brent Dated was $106.98 per barrel, or $2.92 less compared to the previous week.

The maximum price on Brent was $108.94 per barrel, and the minimum - $105.3.

Currency market

Last week the official rate of the AZN to the U.S. dollar set by the Azerbaijani Central Bank (CBA) remained unchanged. The average rate was established at 0.7844 AZN to 1 U.S. dollar.

As a result of last week's exchange, the stock exchange price of Azerbaijani manat to the U.S. dollar, set based on trading results at the Baku Inter-bank Currency Exchange (BICEX), remained unchanged. The average rate was set at 0.7829 AZN to 1 U.S. dollar.

Deals concluded last week at BEST comprised: July 7 - $6.07 million, July 10- $4.55 million, July 11- $1.2 million. No deals were concluded on July 8 and July 9.

No deals were concluded with USD/AZN T+1 and T+2 due to lack of appeals from dealers.

Appeals on EUR/AZN and RUB/AZN were not made by banks in BEST.

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