Review of 13 world oil prices for Jan.9-13

Azerbaijan, Baku, Jan. 16 / Trend A.Badalova /

The average spot price in 13 varieties (including North American) last week (Jan.9-13) amounted to $111.4 per barrel compared to $110.73 per barrel the previous week.

The highest average price was observed on Minas oil produced in Indonesia, which amounted to $123.91 per barrel compared to $120.79 per barrel the previous week. The 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.

Last week the average spot price for the Malaysian Tapis decreased by $0.01 per barrel to $119.11 per barrel. 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 a 0.1-percent sulfur content.

Average price for the Bonny Light oil produced in Nigeria hit $114.7 per barrel compared to $114.59 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.

Last week, the average spot price for the benchmark grade of oil from the Middle East Oman hit $113.76 per barrel compared to $111.62 per barrel the previous week. The density of the Oman oil is 36.3-degrees API, with a 0.8-percent sulfur content.

Last week average price for North Sea Oseberg oil decreased by $0.23 per barrel to $113.63 per barrel. The density of Oseberg is 37.8-degrees API with a 0.27-percent sulfur content.

OPEC oil basket price increased by $3.42 per barrel to $112.71 per barrel. The OPEC's 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).

The price of Brent last week amounted $112.48 per barrel compared to $112.7 the previous week. Brent Dated's density is 38.6-39 -degrees API, with up to 1-percent sulfur content.

The average spot price for North Sea Forties was at $111.11 per barrel compared to $112 per barrel 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.

Average spot prices for the high-sulfur oil Urals which is a mixture of oil produced in the Khanty-Mansi Autonomous District and Tatarstan increased by $0.79 per barrel to $110.49 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.

Average spot price for the American Mars last week increased by $0.07 per barrel to $108.48 per barrel. Mars's density is 28.9-degrees API with a 2.05-percent sulfur content.

Last week, 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 kept unchanged at $105.83 per barrel. Dubai Crude is light oil whose density is 31 degrees-API with a 2-percent sulfur content.

The average spot price for the American West Texas Intermediate (WTI) last week decreased by $1.31 per barrel to $100.37 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 is high, particularly in the U.S. and China.

The lowest average spot price was observed for the American WTS crude oil, which decreased by $1.67 per barrel to $98.31 per barrel. 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.

Subscribe to Trend in Google News! Subscribe
Iran highlights need for more customs cooperation with Pakistan
Iran highlights need for more customs cooperation with Pakistan
Iran, Turkmenistan and Azerbaijan gas swap - win-win deal, says Iranian analyst
Iran, Turkmenistan and Azerbaijan gas swap - win-win deal, says Iranian analyst
Iran to import hay from Russia
Iran to import hay from Russia
Loading Bars
Latest
UK records more than 50,000 new coronavirus cases
Italy's economy projected to grow 6.3 pct this year
Kazakhstan decreases petroleum gas export to Hungary amid global pandemic
Militants kill 7 soldiers in Nigeria's northeastern Borno state
Iran nuclear talks adjourn, resume next week
South Africa hit by fourth COVID wave driven by Omicron
Budget for social rehabilitation and childcare to reach 52 mln GEL next year, Georgian PM says
Putin informs Erdogan on main results of Sochi trilateral meeting
Turkey introduces action plan to improve lives of the disabled
Construction of 50MW solar power plant underway in Kazakhstan
Azerbaijani FM, OSCE rep exchange views on OSCE Charter (PHOTO)
Human remains discovered in Caspian Sea and recovered - SOCAR
Iran highlights need for more customs cooperation with Pakistan
bp discloses investments in construction of power plant in liberated Azerbaijani lands
Turkmen gas may be supplied to Europe via Caspian Connector project - ambassador
Turkish, Russian Presidents hold phone talks
Azerbaijan’s Pasha Holding talks about development strategy
Azerbaijan's Heydar Aliyev Foundation, UNICEF sign another memorandum of understanding (PHOTO)
Azerbaijan shares data on number of vaccinated citizens
Azerbaijani, Turkish military pilots conduct joint training flights in Baku (PHOTO/VIDEO)
Azerbaijan confirms 1,703 more COVID-19 cases, 2,180 recoveries
Turkmenistan can supply natural gas to European market until 2050 - ambassador
Azerbaijan discloses export volume of petroleum coke
Azerbaijan's Finance Ministry to auction gov't bonds via Baku Stock Exchange
SOCAR begins testing of new mobile diving complex
Israeli co Fireblocks raising $400m at $8b valuation
Croatia remains one of Russia’s key partners in EU
Value of goods transported via road increases in Azerbaijan
U.S. job growth misses expectations in Nov.
Policy and Management Consulting Group shares data on Georgia’s economic outlook
Georgia, Qatar discuss favorable investment climate
Price indexes of financial, trade sectors at Uzbek stock exchange fall
Uzbekneftegaz obtains new industrial gas flow from Kulbeshkak field
Uzbek Statistics Committee shares data on imports of meat for 10M2021
Georgia’s economic climate remains stable – PMC
Uzbekistan reveals volume of bank loans allocated to various sectors of economy
Iran, Turkmenistan and Azerbaijan gas swap - win-win deal, says Iranian analyst
FMs of Azerbaijan, Poland hold meeting within OSCE Ministerial Council
Co-op between Turkmenistan, EU to focus on improving business climate till 2027
Azerbaijan's food import volume down for 10M2021
Zones free from animal diseases being created in Azerbaijan’s Karabakh, East Zangazur
Azerbaijan considers opening Indonesian Chamber of Commerce
Azerbaijan increases chemical production volume for 10M2021
Azerbaijan, Turkey begin work on establishing joint university - minister
Azerbaijan’s liberated territories have several types of renewable energy sources– RES agency
Azerbaijani parliament adopts amendment to servicemen insurance law
Azerbaijan may exempt sale of electric cars from VAT
Azerbaijan introduces excise taxes on electronic cigarettes, shisha
Concept for creation of "green energy" zone in Azerbaijan’s liberated territories prepared
Transaction to sell Chinese oil company’s stake in Azerbaijan closed
Output volume at Azerbaijan’s Kursangi, Garabagli fields revealed
Austrian interior minister becomes candidate for country’s next chancellor
Azerbaijan begins geological exploration at Tutkhun gold deposit in Kalbajar
Iran to import hay from Russia
Uzbek home appliance manufacturer Artel joins United Nations Global Compact
Economic stability - framework of Iran`s next year budget
BioNTech CEO confident of quickly adapting vaccine for Omicron
Situation is still fragile in South Caucasus - OSCE Chairperson-in-Office
Azerbaijan to strengthen social protection of population in 2022 – PM
Azerbaijan may exempt import of books and paper from VAT
Iran reveals its non-oil trade in 7 months
Iran aims to build new oil, gas refineries amid growing consumption
Uzbek Central Bank shares data on leading banks in terms of loans
Azerbaijani PM talks on measures to curb price increase
Iran seeks to establish joint banking network with Syria
Azerbaijan to expand agriculture dev’t in Karabakh in 2020 – minister
Demining of water basins in Azerbaijan's liberated Fuzuli, Aghdam underway - ministry
Azerbaijan removes electronic bracelets from 134 convicts within amnesty act
India seeks strong ties with EU, cooperation in transition to clean energy
Dubai's DP World pulls out of Haifa port privatisation bid
Azerbaijani Artillery Units hold live-fire exercises (PHOTO/VIDEO)
Azerbaijan to change state duties on issuing registration plates of road vehicles
Georgian business sector sees average monthly salary increase
Cementing ties with France, UAE places $19 bln order for warplanes, helicopters
Azerbaijan preparing development strategy for Karabakh - Karabakh Revival Fund (PHOTO)
Man of Armenian origin who attacked Azerbaijani soldier neutralized – MoD
Azerbaijan releases 14 prisoners from correctional institution № 16 as part of amnesty act (PHOTO)
Azerbaijan releases 122 prisoners from correctional institution within amnesty act (PHOTO)
Australia calls on Azerbaijan, Armenia to delimit and demarcate state borders
Azerbaijan sees growth of trading via Baku Stock Exchange
Azerbaijan to release 65 female prisoners within act of amnesty
Georgia’s domestic supply of natural gas slightly decreases
Azerbaijan clears almost half of "Araz Valley Economic Zone" Industrial Park of mines - minister
Azerbaijan releases seven prisoners within act of amnesty (PHOTO)
Azernews newspaper selected as media partner of ECO from Azerbaijan (PHOTO)
bp is first company to use flexible approach in management of energy resources during pandemic
Turkey’s fuel exports to Georgia plummet
EU firms in infrastructure sector spent higher share of their investment on energy efficiency
Azerbaijan to strengthen control over allocation of subsidies
Share of EU firms investing in improving energy efficiency falls
Partnered with Azerbaijani banks, VISA actively developing technologies for issuing digital cards
Azerbaijan expands list of goods not covered by VAT refund
Georgia’s electricity exports triple
Azerbaijan’s justice ministry talks number of people released under amnesty act (PHOTO)
Further strengthening of Azerbaijan's army is one of important tasks – PM
Azerbaijan discloses expenses on COVID-19 vaccination
Opening of Zangazur corridor is one of most important issues – PM
Azerbaijani Parliament adopts amendments to Tax Code
Over half of EU firms affected by physical climate change risks
Russia records over 32,900 COVID-19 cases in last 24 hours
All news