The last week started with symmetric jumps up and down in the prices at oil futures market: futures prices of Light Sweet at New-York Merchantville Exchange (NYMEX) grew $1.91 on Monday (12 Dec) and dropped $1.93 on Friday (16 Dec). In the end of the week futures prices of Light Sweet dropped $1.33 or 2.2%. Futures prices of Brent oil at InterContinental Exchange Futures (ICE Futures) in London changed over the week inconsiderably with a fall of 18 cents.
In its December report OPEC increased the forecasts on medium demand for oil in 2006 to $28.70m barrels a day against $28.57m barrels a day, which was expected in the November report. In compliance with the quartile forecasts of OPEC, in the first quarter of 2006 medium demand for oil will comprise 29.87 million barrels a day, in the 2nd quarter вЂ" 27.74 million barrels a day, in the 3rd quarter вЂ" 28,07 million barrels a day and 4th quarter вЂ" 29,16 million barrels a day.
As a result of last week official rate of manat in respect to US dollar, set by the National Bank of Azerbaijan grew 1 points or 0.022%. Average rate over 5 working days was established as 4591.2 manats per 1 US dollar. As a result of the week from 12 through 16 December average rate of US dollar turned out 0.8 points or 0.017% down than the similar figure, calculated on the base of rates, established in the week from 5 through 9 December.
Last week maximum rate of US dollar in respect to manat was established on 13 and 14 December (4592 manats per 1 US dollar), minimum вЂ" 12 December (4590 manats per US dollar). Difference between maximum and minimum official rate of manat in respect to US dollar, set by the National Bank of Azerbaijan, comprised 2 points, or 0.043%.
Euro rates started the week at 5433.41 manats per euro, and completed at 5487.62 manats. The rates fell 54.21 points during the week.
As of results of last week exchange rates of Azerbaijani manat in respect to euro established on the base of results of the Baku Interbank Currency Exchange (BBVB) grew 1 points or 0.022%. Average rate over 5 working days of last week was established as 4591 manats per US dollar. The average rate of euro in the end of the week from 12 through 16 December was set as 0.8 points or 0,017% more than the similar figure calculated on the base of rate established in the week from 5 through 9 December.
Last week maximum rates of US dollar in regard to Azerbaijani manat was fixed on 13 and 14 December (4592 manats per 1 US dollar), minimum вЂ" on 12 December (4590 manats per 1 US dollar). Difference between maximum and minimum exchange rates of manat in respect to US dollar, set by the National Bank of Azerbaijan made up 2 manats or o,043%.
Aggregate amount of trading sessions (BEST) at BICEX comprised US $24,032m last week. Average daily deals constituted US $4,8064m. Maximal rates were fixed on 6 December, comprising US $8.968m. 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.