Oil market
Oil prices rose last week (8 12 May) at the expense of essential increase on Tuesday, Wednesday and Thursday. As a result of trading session on Friday (12 May) the June futures for oil Brent oil at InterContinental Exchange Futures (ICE Futures) in London dropped $1,11 to $72.32 per barrel. June futures for Light Sweet at NYMEX fell $1.28 to $72.04 per barrel. The obvious reason causing cut in prices was monthly report of the International Energy Agency (IEA), OECD, which united the world biggest industrial countries. The report decreased the forecast for world demand for oil in 2006 by 220,000 barrels a day. According to May futures the world demand will increase in 2006 by 1.25 million barrels a day to 84.84 million barrels a day.
Currency market
As a result of the last week official rate of manat in regard to US dollar, set by the National Bank of Azerbaijan grew 0,0006 point or 0.06%. Average rate was established as 0.902125 manats per 1 US dollar, Trend reports.
Last week maximum rate of US dollar in respect to manat was established on 8 May (0.9024 manats per 1 US dollar), minimum 12 May (0.9018 manats per US dollar)
As of results of the last week exchange rates of Azerbaijani manat in regard to US dollar, established on the base of results of the Baku Interbank Currency Exchange (BICEX) increased by 0,0009 point or 0.09%. Average rate was fixed as 0.9016 manats per US dollar.
Last week maximum rate of US dollar in respect to manat was established on 10 May (0.9020 manats per 1 US dollar), minimum 12 May (0.9010 manats per US dollar).
Deals concluded last week at BEST with transition to currency (T+0) comprised $3,750m with average sustained exchange rate of 0,9019 AZN/USD on 8 May, $0,453m with average sustained rate of 0,9020 AZN/USD on 10 May, $1,920m with average sustained rate of 0,9015 AZN/USD on 11 May, $1,580m with average sustained rate of 0,9010 AZN/USD 12 May.
Last week no deals were concluded through Russian currency due to absence of appeals. Two deals were concluded with EUR/AZN instrument. One of them amounted to 9,000 euros with a rate of 1,1456 AZN, while another deal amounted to 31,000 euros with a rate of 1,1456 AZN.
Privatization shares market
Prices of vouchers were stable in is period. From 8 to 11 May prices of vouchers rose to 90,000 old manats (18 AZN), on 12 May - 115,000 manats (23 AZN).