Mars ups on backdrop of overall fall: REVIEW of 13 world oil prices
Azerbaijan, Baku, Oct. 5 / Trend , A.Badalova/
Last week (Sept. 28-Oct. 2), the average world price of 13 major varieties of oil has kept the corridor $64.6-$67.8 per barrel. Average spot price in 13 varieties (including the North-American) last week amounted to $66.3 per barrel with a $1.3-decrease from a previous week. The fall in the world oil prices last week was caused by low macroeconomic indicators, and in particular the record high level of unemployment in the United States. According to the data published late last week, an unemployment rate rose to 9.8 percent in the United States in September.
The highest average price last week was for the Malaysian oil Tapis and West Texas Intermediate (WTI) light oil - $68.8 per barrel. Tapis 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. 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.
Bonny Light, produced in Nigeria was sold by $1.3 per barrel cheaper than the Malaysian and North American oil. Average prices for this oil last week was $67.5 per barrel, which is by $1.27 per barrel less than the previous week. 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.
Benchmark grade of oil from the Middle East - Oman stood at $65.43-$68.86 per barrel with an average price at $67.1 per barrel last week. This price was by $1.97 per barrel less compared the previous week. The density of this oil is 36.3 degrees API with a 0.8 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 $66.9 per barrel with a $0.27-decrease from the previous weeks. Dubai Crude is light oil whose density is 31 degrees API with a 2-percent sulfur content.
The price for Oseberg oil - sort of North Sea was almost the same with the Dubai oil - $66.7 per barrel compared to $68.62 per barrel. Density of this oil is 37.8 degrees API with a 0.27 percent sulfur content.
An average spot price for Brent (Dated) oil, produced in the North Sea, last week shrank by $0.9 per barrel and was $66.1. The Brent Dated's density is 38.3 degrees API with a 0.36-percent sulfur content.
An average spot price for WTS crude oil last week was $65.9 per barrel compared to $65.42 per barrel in previous weeks. The density of the oil is not less than 30 degrees API with a 2.5-percent sulfur content.
An average spot price of North Sea Forties last week shrank by over $2 and was $65.7 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 high-sulfur oil (sulfur content is about 1.3 percent), which is a mixture of oil produced in the Khanty-Mansi Autonomous District and Tatarstan, last week was $65.5 per barrel with a $1.33-decrease from previous weeks.
The OPEC oil basket was $65.1 per barrel last week which is by $3.48 per barrel less than an average price in previous weeks. 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 American Mars oil last week increased by $0.8 per barrel and was $64.9 per barrel. Mars's density is 28.9 degrees API with a 2.05-percent sulfur content.
Minas oil, produced in Indonesia, was at the lowest level last week. An average spot price for this oil last week amounted to $62.8 per barrel with a $3.27-decrease from previous weeks. 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.
Energy Intelligence Group provides Trend Agency with daily oil price quotas
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