Oil Market
On Friday the oil prices at NYMEX fell to its 10-month minimum thanks to hopes for soonest resolution of conflicts around Iranian nuclear problem. The Iranian President Mahmoud Ahmadinejad stated that at the UN Security Council, in definite circumstances Tehran is ready to discuss cessation of uranium fortification.
As a result of regular trading sessions at the New York Commodity Exchange on Friday, the November contract on delivery of WTI oil fell $1.04, or 1.7%, to $60.55 per barrel. Over the last week the oil prices dropped 5.4%. November futures of Brent oil at the London-based London Intercontinental Exchange, ICE, the November futures for Brent oil dropped $0.93, or 1.5%, to $60.41 per barrel. Over the week the prices fell 4.61%.
The natural gas prices fell on Friday $0,154, or 3.2%, to $4,627 per BTU. Last week the gas prices fell 7.2%, while as a result of last 4 weeks fall was fixed at 35%.
Currency Market
As a result of last week, the official rate of manat with regards to the US dollar, set by the National Bank of Azerbaijan grew 0,0016 point or 0.16%. The average rate was established as 0.87732 manats per 1 US dollar, Trend reports.
Last week the maximum rate of the US dollar in respect to the manat was established on 18 September (0.8783 manats per 1 US dollar), minimum 21 and 22 September (0.8767 manats per US dollar).
As a result of the last week exchange rates of the Azerbaijani manat with regards to the US dollar, established on the base of results of the Baku Interbank Currency Exchange (BICEX) increased by 0,0017 point or 0.17%. Average rate was fixed as 0.87634 manats per US dollar.
Last week the maximum rate of the US dollar in respect to the manat was established on 18 September (0.8772 manats per 1 US dollar), minimum 22 September (0.8755 manats per US dollar).
Deals concluded last week at BEST with transition to currency (T+0) comprised $1,140 with average sustained exchange rate of 0.8772 AZN/USD on 18 September, $4,306m with average sustained rate of 0.8768 AZN/USD on 19 September, $6,440m with average sustained rate of 0.8762 AZN/USD on 20 September, $4,670m with average sustained rate of 0.8760 AZN/USD on
1 September and $12.1m with average sustained rate of 0,8755 AZN/USD on 22 September.
No deal was concluded with Russian ruble and Euros last week due to the absence of appeals.
Privatization Shares Market
During this period the prices of vouchers were stable and made up 82,000 old manats (16.4 AZN) showing rise of 2,000 manats (0.4 AZN).