Politics Materials 7 December 2005 12:01 (UTC +04:00)

Oil market

The oil futures market started the last week (28 Nov вЂ" 2 Dec) with frivolous spirit. Warm whether ruled the northeast part of the United States, which is the biggest regional consumer of fuel mazut, in winter season, and participants in the futures market did not pay attention neither to snowstorm, reigning in the area, nor the forecasts by the meteorologists, who urged that the cold weather would go northeast states.

As of results of the first two days of the week the oil prices fall. The January futures for Light Sweet at the NYMEX dropped $1.35 on Monday and 86 cents on Tuesday, which closed the day at $56.50 per barrel вЂ"the lowest prices upon the closing rates fixed on 15 June 2006.

In its report published on Wednesday, the US Energy Ministry, the US commodity reserves reduced 4.2 million to 317.6 million barrels in the week which ended on 25 November. It was 29.7 million barrels, or 10.3% more than the last year. Despite cut in reserves, the commodity reserves remain a bit higher than the upper border of medium diapason for this period.

Currency market

Last week rates of Azerbaijani manat grew 4 points in regard to US dollar and made up 4593.6 manats.

Euro rates started the week at 5374,563 manats per euro, and completed at 5383.89 manats. The rates fell 9.33 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 5 points, 0,1087%.

Aggregate amount of trading sessions (BEST) at BICEX comprised US $17,317m last week. Average daily deals constituted US $3,4634m. Maximal rates were fixed on 28 November, comprising US $7.8m. Strong fluctuations were not peculiar to last week dynamic of trading sessions.

Privatization shares market

The prices of privatization shares remained unchanged in this period.