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Oil prices and dynamics of monetary market of Azerbaijan (Sept. 22-26)

Analysis Materials 30 September 2014 10:58 (UTC +04:00)

Oil market

The average price on AZERI LT, exported from Azerbaijan via the Ceyhan, Batumi and Supsa ports to Italian Augusta port, was $97.11 per barrel Sept. 22-26, which is $1.66 less compared to the previous week.

The maximum price for AZERI LT was $97.48 per barrel. The minimum price was $96.52 per barrel.

The average price on Urals (Ex-Novo) exported from Azerbaijan via the Novorossiysk port was $92.86 per barrel, which is $1.69 per barrel less compared to the previous week.

The maximum price for Urals was $93.2 per barrel and the minimum - $92.33 per barrel.
Urals' density is 32 degrees API with a 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 nearly $95.14 per barrel, which is $1.86 per barrel less compared to the previous week.

The maximum price on Brent was $95.47 per barrel and the minimum - $94.59.

Currency market

The official rate of 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 the Azerbaijani AZN to the U.S. dollar, established based on results from 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: September 23 - $5.536 million, September 25 - $0.388 million. No deals were concluded on September 22, 24 and 26.

No deal was concluded with USD/AZN T+1 and T+2 due to lack of appeals made by dealers. Appeals on EUR/AZN and RUB/AZN were not made by banks in BEST.

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