Oil market
Major world oil futures trading areas ended the week (19 вЂ" 23 Dec) in discordantly. As a result of the week futures prices of Brent oil at InterContinental Exchange Futures (ICE Futures) based in London fell 73 cents, while futures prices of Light Sweet oil at NYMEX in New-York grew 37 cents. Despite a rise in oil prices at NYMEX, no вЂ�bull’ drop was observed at the trading sessions. Expiration of the term of January futures contracts on Light Sweet promoted rise in prices in New York in mid-week and transition to February contract as a new reference point for market. Moreover, closure of short positions of oil on the eve of the New Year holiday also affected the final dynamic.
According to the US Energy Ministry, published on Wednesday, the week which ended on 16 December, the commodity oil reserves in the United States grew 1.3 million barrels to 322.5 million barrels, or 12% more as compared to last year. According to e Energy Ministry, in this case the �commodity reserves remain a bit high than the average diapason for this season.
Currency market
As a result of last week official rate of manat in respect to US dollar, set by the National Bank of Azerbaijan did not change. Average rate over 5 working days was established as 4592.6 manats per 1 US dollar. As a result of the week from 19 to 23 December average rate of US dollar turned out 1.4 points or 0.03% down than the similar figure, calculated on the base of rates, established in the week from 12 to 16 November.
Last week maximum rate of US dollar in respect to manat was established 21 December (4594 manats per 1 US dollar), minimum вЂ" 19, 22, 23 December (4592 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 0.044%.
Euro rates started the week at 5516.6 manats per euro, and completed at 5453.69 manats. The rates fell 62.91 points during the week.
As of results of last week exchange rates of Azerbaijani manat in respect to US dollar, established on the base of results of the Baku Interbank Currency Exchange (BBVB) did not change. Average rate over 5 working days of last week was established as 4592.6 manats per US dollar. The average rate of US dollar in the end of the week from 19 to 23 December was set as 1.4 points or 0.03% down than the similar figure calculated on the base of rate established in the week from 12-16 December.
Last week maximum rates of US dollar in regard to Azerbaijani manat was fixed on 21 December (4594 manats per 1 US dollar), minimum вЂ" on 19, 22, 23 December (4592 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 0,044%.
Privatization shares market
The prices of privatization shares remained unchanged in this period.