Oil market
The average price for AZERI LT CIF, extracted from the block of Azeri-Chirag-Guneshli fields, was $55.67 per barrel on Jan. 9-13 or $0.79 per barrel less than the previous week.
The highest price of AZERI LT was $56.39 per barrel, while the lowest price was $54.67 per barrel during the reporting period.
Azerbaijan sells AZERI LT via the Turkish port of Ceyhan and Georgian ports of Batumi and Supsa. The oil is supplied to Ceyhan via the Baku-Tbilisi-Ceyhan pipeline and to Georgia via the Baku-Supsa pipeline, as well as by rail.
Average price of URALS (EX-NOVO), that Azerbaijan exports via the Novorossiysk port, was $51.51 per barrel on Jan. 9-13 or $0.59 per barrel less than the previous price.
The highest price for URALS was $52.3 per barrel and the lowest price was $50.47 per barrel during the reporting period.
Azerbaijan sells the oil supplied via the Baku-Novorossiysk pipeline through Russia’s Novorossiysk port.
Average price of Brent Dated was $54.13 per barrel on Jan. 9-13 or $0.88 per barrel less than in the previous week.
The highest price for Brent was $54.92 per barrel and the lowest price was $53.21 during the reporting period.
Currency market
The official exchange rate of Azerbaijani manat to the US dollar set by Azerbaijan’s Central Bank (CBA) decreased by 0.0125 manats (0.7 percent) last week. Accordingly, the average rate was set at 1.7767 manats to $1.
The official exchange rate of manat to euro set by the CBA decreased by 0.0293 manats (1.5 percent) last week. Accordingly, the average rate was set at 1.87998 manats to 1 euro.
Last week, the price of one ounce of gold increased by 66.8697 manats (3.2 percent). Accordingly, the average price of one ounce of gold stood at 2,106.30898 manats.