Oil market
The average price for AZERI LT CIF, extracted at Azerbaijan’s Azeri-Chirag-Gunashli block of fields, was $50.4 per barrel on Aug. 15-19, or $3.88 per barrel more than in the previous week.
The highest price for AZERI LT was $51.47 per barrel and the lowest price was $48.97 per barrel during the period.
Azerbaijan sells AZERI LT via the Turkish port of Ceyhan and Georgian ports of Batumi and Supsa. Oil is supplied to Ceyhan via the BTC pipeline and to Georgia via the Baku-Supsa pipeline and a railway.
The average price for URALS (EX-NOVO), exported from Azerbaijan via the Novorossiysk port, was $46.61 per barrel on Aug. 15-19 or $4.44 per barrel more than the previous week.
The highest price for URALS totaled $47.58 per barrel, the lowest price being $45.21 per barrel on Aug. 15-19.
The average price for Brent Dated was $48.74 per barrel on Aug. 15-19 or $4.77 per barrel more than the previous week.
The highest price for Brent Dated was $49.77 per barrel, the lowest price being $47.24 during the period.
Currency market
The official exchange rate of Azerbaijani manat to the US dollar set by Azerbaijan’s Central Bank (CBA) decreased by 0.01 manats (0.6 percent) last week. Accordingly, the average rate was set at 1.61516 manats to $1.
During the week, the official exchange rate of manat to euro set by the CBA decreased by 0.0403 manats (2.2 percent). Accordingly, the average rate was set at 1.81756 manats to 1 euro.
This week, the price of one ounce of gold increased by 10.30 manats (0.47 percent). Accordingly, the average price for gold reached 2173,6829 manats.
The trading at Baku Interbank Currency Exchange (BBVB) has not been carried out since early 2015, so the exchange rate of manats is not formed.