Tapis leads: REVIEW of 13 world oil prices

Tapis leads: REVIEW of 13 world oil prices

Azerbaijan, Baku, Dec. 1 / Trend , A.Badalova/

At the end of last week, oil prices on world markets fell to its lowest level for the last month. The main reason for that was the published data on the growth of oil reserves in the U.S., which grew over the past week to 1.762 million barrels compared to 200,000 barrels the analysts expected.

The average spot price in 13 varieties (including North American) last week amounted to $76.7 per barrel, with a $1.05 decline from the previous week.

The highest average price was observed on the Malaysian oil Tapis last week.  Its average sport price was $78.3 per barrel, with a $2.3-decrease from the previous week. This type is used as a reference for the oil-producing zone of the Far East. Tapis's density is 45.5-degrees API with 0.1-percent sulfur content.

Bonny Light, produced in Nigeria, was almost by $0.22 per barrel cheaper than the Malaysian oil Tapis. Average prices for the oil last week were $78.08 per barrel, with a $0.42-decrease from 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.

The price for North Sea Oseberg oil stood at $77.5 per barrel. Last week growth in the North Sea oil amounted to $0.3 per barrel. The density of Oseberg is 37.8-degrees API with a 0.27-percent sulfur content.

The average spot price for a marker grade of oil produced in Dubai and used as a benchmark in setting prices of other brands of oil exports in the Gulf region Dubai Crude amounted to $77.4 per barrel, with a 0.3-percent decrease from the previous week. Dubai Crude is light oil whose density is 31 degrees-API with a 2-percent sulfur content.

The benchmark grade of oil from the Middle East Oman stood at $77.3 per barrel with a $1-decrease from the previous week. The density of the oil is 36.3-degrees API, with a 0.8-percent sulfur content.

The average spot price for Minas oil produced in Indonesia and the Brent (Dated) oil, produced in the North Sea oil last week was $76.9 per barrel. The price of Brent (Dated) oil decreased by $0.4 and the price for Minas - $ 2.9. Brent Dated's density is 38.3-degrees API, with a 0.36-percent sulfur content. Minas's density is 35.3-degrees API, with a 0.09-percent sulfur content.

Last week, the average spot price for North Sea Forties was $76.5 per barrel, with a $0.3-fall from the previous week. Forties 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.

The average price for the American West Texas Intermediate (WTI) oil last week was $76.4 per barrel compared to $78.3 per barrel the previous week. 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 is high, particularly in the U.S. and China.

The average spot price for the American Mars oil comprised $76.06 per barrel, with a $0.24-decrease from the previous week. Mars's density is 28.9-degrees API with a 2.05-percent sulfur content.

Last week, the average spot price for the high-sulfur oil Urals, which is a mixture of oil produced in the Khanty-Mansi Autonomous District and Tatarstan  was $75.9 per barrel compared to $75.5 per barrel the previous week. 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.

Last week, the average spot price for the OPEC oil basket was $75.6 per barrel compared to $76.7 per barrel the previous week. The price is the average index of physical prices for the 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).

Last week, the lowest average spot price was observed for WTS crude oil last. The average price for WTS was $74.3 per barrel, with a $2.1-decrease from the previous week The density of WTS is not less than 30 degrees-API with a 2.5-percent sulfur content.

Energy Intelligence Group provides Trend Agency with daily oil price quotas.

Do you have any feedback? Contact our journalist at: [email protected]

Loan expenses of travel companies to be compensated in Uzbekistan
Loan expenses of travel companies to be compensated in Uzbekistan
G20 tourism ministers agree to maximize travel sector's contribution to economy
G20 tourism ministers agree to maximize travel sector's contribution to economy
Uzbekistan’s Zaamin to be 4-season touristic hot spot with Turkish company's project
Uzbekistan’s Zaamin to be 4-season touristic hot spot with Turkish company's project
Loading Bars
Latest
With this Armenian government unfortunately, prospects for peaceful settlement very remote - President Aliyev
More military equipment of Armenian armed forces destroyed (VIDEO)
Azerbaijani flag hoisted in Agbend village of Zangilan district (VIDEO)
Central Bank presents forecasts for Uzbekistan’s macroeconomic dev’t
Kazakhstan, Romania trade turnover increases despite COVID-19
With liberation of Aghband settlement, taking full control over Azerbaijani-Iranian state border ensured - President Ilham Aliyev
Azerbaijani Army liberates 3 villages of Fuzuli district, 4 villages of Jabrayil district - President Ilham Aliyev
Azerbaijani Army liberates 13 villages, Aghband settlement of Zangilan district - Azerbaijani president
Russia continues to make active efforts to resolve Karabakh conflict - MFA
OIC Parliamentary Union condemns Armenia's attack on Azerbaijan's Ganja
Azerbaijani RabitaBank's assets for 9M2020 grow
Morocco decreases import of Turkish cars
Uzbekistan, Afghanistan to jointly attract funds for transport corridors dev’t in Central Asia
Uzbekistan, Tajikistan agree on resumption of flights
Armenia's tries to present its position as "peaceful" - total nonsense, Azerbaijan says
Iran to offer loans to support industrial production
Isbank Georgia talks about its cooperation with IFC
Restoration of territorial integrity of Azerbaijan - undoubtedly legitimate process - Georgian expert
Adidas plans to sell ailing Reebok business within months
Cargo transportation between Uzbekistan, Afghanistan grows despite decline in int'l trade
Export of cars from Turkey to France down
Yerevan's foreign policy only possible if Armenia accepts it needs to make peace with Azerbaijan - Svante Cornell
Turkish Trade Ministry says export of domestic cars to China up
Georgia sees increase in price of medicines
Turkmenistan’s geographic location offers potential for country’s economy, says US Embassy in Turkmenistan
Azerbaijan Rabitabank’s net profit for 9M2020 revealed
National Bank of Georgia takes another steps to stabilize lari exchange rate
Procedure for calculating total amount of insurance premiums approved in Azerbaijan
Turkey's export of cars to US edge lower
Karabakh hostilities cause direct disruption to health care amid COVID-19 - WHO
Import of Turkish cars by Azerbaijan declines
Yerevan must withdraw troops, mercenaries and terrorists from Azerbaijan - Turkish Defense Minister
Azerbaijan reveals data on imports for 9M2020
Germany's nine-month import of cars from Turkey down
Apples emerging as export crop for second year in Georgia
Azerbaijan reveals 9M2020 trade turnover volumes with major partners
Nagif Hamzayev: Azerbaijan writes new pages in the world military history
Turkey's 9M2020 export of jewelry to Ukraine doubles
Azerbaijani artillerymen continue to make precise strikes at firing points of Armenian armed forces (VIDEO)
Tender: Khazar Consortium to buy materials for smooth operation of oil field facilities
Int'l organizations miscalculate military arsenal of Armenia - MP
Turkmengas opens tender for purchase of equipment
Uzbekistan’s 9M2020 export volume of fruits, vegetables revealed
MagtiCom leads with highest ARPU rate in Georgia
New apartments inagurated in Iran
Azerbaijan's overall exports for 9M2020 unveiled
Kazakhstan to increase electric vehicles manufacturing by 2022
CO2 emissions prevented in Kazakhstan as renewable energy projects launched
Revenues of mobile operators in Georgia down
Uzbekneftegaz launches condensate stabilization unit at Uzbek oil field
Azerbaijani Embassy in Russia clarifying issue on prohibiting Azerbaijani citizens to use Pobeda Airlines' services
Uzbekistan launches mineral-based engine oil production
Trend News Agency's editor-in-chief tells CNN Turk about ongoing tension in Karabakh (PHOTO/VIDEO)
Russia almost halves jewelry imports from Turkey
Azerbaijan’s AzerGold taking measures on legal assessment of illegal mining in occupied territories
Azerbaijan starts reconstructing roads leading to liberated villages of Tartar (PHOTOS)
Georgian Caucasus Auto Import adds new export markets
USAID promotes warehouse digitization of Turkmen logistics company
Uzbekistan eyes to increase cars export by 4Q2020
Uzbekistan’s private business actively involved in agriculture digitalization
Sanctions must be imposed on Armenia, says Lebanese legal expert
Attacking civilians unacceptable, Israeli ambassador says
Armenia opens additional flights to transfer volunteers to Karabakh (PHOTO)
Number of people infected with COVID-19 pandemic in Iran exceeds 550,000
Azerbaijan's president says Armenia receiving external help, including mercenaries, weaponry
Your statements every evening about how many villages, cities have been liberated from occupation bring joy to people all over Turkey - Turkish Chief Ombudsman
Azerbaijan confirms 171 more COVID-19 recoveries
Turkmenistan's import of Turkish jewelry surges
Value of Azerbaijan's goods export by road edges down
Those unwilling to fight in Armenia buy positive coronavirus test at $1,000-2,000
There is not single surviving building in liberated cities, in these villages, in most of them - Azerbaijani president
Media of many countries unilaterally side with Armenia - President Aliyev
Israel's ambassador to Azerbaijan visits Ganja, witnesses damages following Armenia's attack (PHOTO)
We have never taken and will never take any action against civilians, says Azerbaijani president
By breaking back of Armenian fascism, we save our region from great tragedies - President Aliyev
Iran’s Bahar Azadi gold coin price rebounds
Georgia, Japan sign double taxation avoidance agreement
Volume of investments to be made to Iran's Khuzestan Province growing
Auto sales drop on Georgian market
Gasoline demand to decline from 2030
Volume of cargo freight via Azerbaijani ports continues to grow
Turkmenistan forecasts total revenues, expenditures of country's financial plan for 2021
EBRD supports refurbishment of wastewater facilities in Kazakhstan's Shymkent
COVID-19 may accelerate downward trends in oil consumption of developed economies
Uzbekistan boosts jewelry import from Turkey
Azerbaijani Central Bank unveils amount of foreign currency sold to local banks
Oil demand has yet to peak for two key reasons
Karabakh conflict should be settled on issues of boundary lines, sovereignty issues - US Ambassador to NATO
Armenians fire at Azerbaijan’s Gabala and Kurdamir cities by using Elbrus ballistic missiles (PHOTO)
Azerbaijan-Russia strategic partnership to reach high level
'NATO not part of Karabakh conflict', Stoltenberg tells Armenia
Azerbaijan shows video footage of captured military equipment of Armenian Armed Forces (VIDEO)
Gold, silver prices in Azerbaijan down
Armenian servicemen refusing to fight, says Azerbaijani MoD
National Bank of Georgia talks about 3 key challenges in financial sector
Armenia must leave occupied Azerbaijani lands, says Turkish president's aide
Uzbekistan to increase electricity supply to Afghanistan
Civilian wounded from Armenian Armed Forces' missile attack on Azerbaijan's Gabala
Turkmenistan to take measures to increase volume of domestic production
Russian businessmen intend to expand their activities in Azerbaijan
All news