Azerbaijan, Baku, Sept. 28 / Trend , A.Badalova/
Last week (Sept. 21-25), the average world price of 13 major varieties of oil has not reached$ 70 per barrel, projected by world financial institutions, keeping the corridor $65.4-$69.5 per barrel. This was in part due to fears of excessively slow recovery of world economy and the expected low demand for energy. Average spot price in 13 varieties (including the North-American) last week amounted to $67.6 per barrel.
The highest average price last week was for the Malaysian oil Tapis - $70.45 per barrel. This type is used as reference marks for oil-producing zone of the Far East. Tapis's density is 45.5 degrees API with a 0.1-percent sulfur content.
Almost $1.5 per barrel cheaper than Malaysia's oil last week was trading benchmark grade of oil from the Middle East - Oman. Average spot price for this benchmark grade of oil stood at $69.07 per barrel. The density of this oil is 36.3 degrees API with a 0.8 percent sulfur content.
Average prices for WTI, produced in Texas, and Bonny Light, produced in Nigeria were last week at the same level - $68.77 per barrel. WTI's density is 40 degrees API with a 0.4-05 percent sulfur content. This oil is mainly used to produce gasoline and therefore the demand for it is high, particularly in the U.S. and China. The density of Bonny Light, used to determine the price of other brands of oil exports in the Gulf, is 33.4 degrees API with a 0.16-percent sulfur content.
Oseberg oil - sort of North Sea stayed in the corridor $65.74-$70.40 per barrel with an average price last week at $68.62. Density of this oil is 37.8 degrees API with a 0.27 percent sulfur content.
The OPEC oil basket almost was at the same level with the North Sea sort - $68.58 per barrel. The price of the basket is the average index of physical prices for following 11 grades of oil: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).
An average spot price of North Sea Forties last week amounted to $67.92 per barrel. This light oil has a low sulfur content and high potential to produce gasoline. Its density is about 40.3 degrees API with a 0.56 percent sulfur content.
An average spot price for a marker grade of oil produced in Dubai and is used as a benchmark in setting the prices of other brands of oil exports in the Gulf region Dubai Crude, amounted to $67.17 per barrel. Dubai Crude is light oil whose density is 31 degrees API with a 2-percent sulfur content.
An average spot price for Brent (Dated) oil, produced in the North Sea, last week stood at $67 per barrel. The Brent Dated's density is 38.3 degrees API with a 0.36-percent sulfur content.
An average spot price for high-sulfur oil (sulfur content is about 1.3 percent), which is a mixture of oil produced in the Khanty-Mansi Autonomous Region and Tatarstan, last week was $66.83 per barrel. The main producers of Urals oil is the Rosneft, Lukoil, Surgutneftegaz, Gazprom Neft, TNK-BP and Tatneft companies. Abroad, this oil is known under the name Siberian Light. In Russia, oil futures for Urals are traded on the FORTS market at the RTS stock exchange.
An average spot price for Minas oil, produced in Indonesia, last week amounted to $66.07
per barrel. Price for Minas is used in setting prices for other brands of oil exports in the Gulf region. Its density is 35.3 degrees API with a 0.09-percent sulfur content.
An average spot price for WTS crude oil last week was $65.42 per barrel. The density of the oil is not less than 30 degrees API with a 2.5-percent sulfur content.
An average spot price of American Mars oil last week amounted to $64.1 per barrel. Mars's density is 28.9 degrees API with a 2.05-percent sulfur content.
Energy Intelligence Group provides Trend Agency with daily oil price quotas
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