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DYNAMICS OF CHANGES IN SOME ECONOMIC SEGMENTS

Politics Materials 25 October 2005 11:01

Oil market

Future oil prices grew on 21 October. During the last trading sessions the oil pieces grew 1% in average. Rise in oil prices during the first four days was linked with the coming Vilma hurricane to the US coast due to which oil production in Mexico gulf late this week dropped.

The results of the trading sessions on futures contracts with the delivery term on 21 October were as follows:

- official prices of Texas oil WTI/Light Sweet with the delivery term in December grew 61 cents to $60.63 per barrel at the New York Mercantile Exchange (NYMEX) with the prices of deals fluctuating from $59.15-$60.70 per barrel during the session;

- official prices of Brent oil with the delivery term in December grew 57 cents to $58.48 per barrel at the International Petroleum Exchange (IPE) with the prices of deals fluctuating from $57.05-$58.55 per barrel during the session;

From the technical aspect the oil prices promoted cut in the market in the short-term positions and the boosted interested towards the sales. On 21 October the futures on petrol at NYMEX went up 1.7%, which was the key factor causing rise in oil futures. On that day the fuel mazut fell down, while no essential changes were observed.

Currency market

Last week rates of Azerbaijani manat grew one point in regard to US dollar and made up 4594 manats.

Euro rates started the week at 5563.4 manats per euro, and completed at 5533.7 manats. The rates fell 29.7 points during the week.

Last week official rate of AZM in regard to USD dropped every day at BBVB, while maximal difference between the rates made up 1.42 points.

Aggregate amount of trading sessions (BEST) at BICEX comprised US $28,163m last week. Average daily deals constituted US $9,3877m. Maximal rates were fixed on 20 October, comprising US $11.697m. Strong fluctuations were not peculiar to last week dynamic of trading sessions.

Privatization shares market

The prices of privatization shares remained unchanged.

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