Oil Market
The future prices on oil increased over February 19-23, 2007 and fixed above the level of $60 per barrel. On Friday, February 23, the April futures on Brent crude at InterContinental Exchange Futures (ICE Futures) in London ended at the rate of $60.88 per barrel, April futures on Light Sweet crude at NYMEX - at the rate of $61.14. Thus, the prices on oil returned to those ones of the end of December, 2006, and exceeded the high range of the diapason of $50-60, in which they had been traded since the beginning of 2007.
The oil prices rise higher than $60 was the result of concourse of some circumstances. In the beginning of the last week, a number of fires occurred on an oil refinery plant belongs to Valero based in Sunray in Texas (USA) and oil refinery of Imperial Oil based in the Canadian Province of Ontario, as well as accidents at delivery duct carrying petrol to the Northern-East region of USA, and one occurred at a BP-owned oil platform on Northstar off-shore Deposit near Alaska. The above-mentioned events "paved the way" for the breakthrough of the level of $60 per barrel. Then, they reported about the data on significant reduction in oil products commodity reserves in USA, as well as high demand on gasoline in the American market.
Finally, the crisis situation over the Iranian nuclear programme, which have been in a latent condition for a long time has become serious aggravated. On Thursday, February 22, IAEA submitted a report to the U. N. Security Council by establishing fact that Iran had not implement the U.N. Security Council's December Resolution, that insisted on Iranian's suspending and freezing all works on uranium enrichment. Moreover, in its report, the U.N. nuclear watchdog noted that Iran had not replied some questions concerning the nature of its nuclear programme. According to IAEA, if the above-mentioned questions put to Iran are not clarified, the watchdog cannot be confident that this country's nuclear programme is of a peaceful nature only.
Currency Market
As results of last week, the official exchange rate of AZN to USD, set up by the National Bank of Azerbaijan increased on 0.0002 points (by 0.02%). Last week, the weight-average rate of AZN was set up at the rate of 0.86932 per 1USD.
Last week, the maximal exchange rate of USD to AZN was observed on February, 19-21 (0.8694 AZN per 1 USD), the minimal rate - on February 22-23 (0.8692 AZN per 1 USD).
As results of last week, the stock-exchange rate of AZN to USD, set up due to the trades conducted at BSEX (Baku Stock Exchange), reduced on 0.0002 points (by 0.02%). The average rate was fixed at the rate of 0.86932 AZN per 1 USD.
Last week, the maximal rate of USD to AZN was observed on February 19-21 (0.8694 AZN per 1 USD), the minimal rate - on February 22-23 (0.8692 AZN per 1 USD).
Last week, deals with value dating the same day (T+0) were concluded in BEST (Bourse Electronic Systems of Trades: February 19 - $10,190 mln. with the weight-average exchange rate at 0.8694 AZN/USD, February 20 - $10,280 mln. with the rate at 0.8694 AZN/USD, February 21 - $5,160 mln. With the rate of 0,8694 AZN/USD, February 22 - $3,417 mln. with the rate at 0.8692 AZN/USD, and February 23 - $9,230 mln. with the rate at 0.8692 AZN/USD.
No deal was concluded either with Russian Rouble (RR/AZN) or EURO (EUR/AZN) due to the lack of applications.
Privatization Shares Market Privatization Shares Market
The prices on vouchers remain stable. In the beginning of last week, the prices on vouchers was AZN, however, in the middle of the week, they grew up to AZN 15.5.