Review of 13 world oil prices for Jan.23-27

Azerbaijan, Baku, Jan. 30 / Trend A.Badalova /

The average spot price in 13 varieties (including North American) last week (Jan.23-27) amounted to $109.37 per barrel compared to $109.81 per barrel the previous week.

The highest average price was observed on Minas oil produced in Indonesia, which amounted to $121.18 per barrel compared to $122.1 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 $0.78 per barrel to $116.37 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.

Last week, the average spot price for the benchmark grade of oil from the Middle East Oman hit $113.29 per barrel compared to $114.17 per barrel the previous week. The density of the Oman oil is 36.3-degrees API, with a 0.8-percent sulfur content.

Average price for the Bonny Light oil produced in Nigeria hit $111.87 per barrel compared to $112.59 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.

OPEC oil basket price decreased by $0.73 per barrel to $111.32 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).

Last week average price for North Sea Oseberg oil decreased by $0.37 per barrel to $111.1 per barrel. The density of Oseberg is 37.8-degrees API with a 0.27-percent sulfur content.

The price of Brent last week amounted $109.85 per barrel compared to $110.14 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 $108.64 per barrel compared to $109.13 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 decreased by $0.15 per barrel to $108.63 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 $0.18 per barrel to $107.29 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 $0.35 per barrel to $99.32 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 $0.27 per barrel to $97.12 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
Oil prices ease as investors wait for assessment of Omicron's impact
Oil prices ease as investors wait for assessment of Omicron's impact
U.S. Senate backs $650 million missile sale to Saudi Arabia
U.S. Senate backs $650 million missile sale to Saudi Arabia
Google Pay begins operating in Israel
Google Pay begins operating in Israel
Loading Bars
Latest
Georgia’s textile imports from Turkey increase
Azerbaijan suffered from equal approach to aggressor and aggression victim - MFA
Iran records increase in transit of goods via trucks through its territory
Azerbaijan working on several youth development projects - Minister of Youth and Sports
Possible opening of cruise line between Azerbaijan, Russia has high potential - Astrakhan governor (Exclusive)
Azerbaijan sees increase in concluded labor contracts over past four years - minister
Azerbaijan’s Central Bank talks increase in non-cash payments (PHOTO)
Azerbaijan to be fully covered by internet by late 2024 - deputy minister
Georgia releases COVID-19 data for December 8
Developing contactless payments to help further digitalize Azerbaijan's economy - VISA
Azerbaijan talks progress of tunnel road building between Goygol, liberated Kalbajar districts
Azerbaijani oil prices increase
Baku holds Azerbaijan Career Development Forum (PHOTO)
Business centers of Azerbaijan, Russia’s Astrakhan sign memorandum of co-op (PHOTO)
Baku port transports goods in transit mainly to Central Asia, Europe – head of main cargo terminal
Kazakhstan eyes increasing requirements for commodity exchanges
Georgia launches energy reform program, backed by KfW, EU
Uzbekistan shares domestic COVID-19 data for December 7
Iranian currency rates for December 8
Oil prices ease as investors wait for assessment of Omicron's impact
EIA revises down forecasts for Azerbaijan’s 2022 petroleum production
Azerbaijan to commission new enterprises for production of sulfuric acid and glass containers
MFA issues statement on 30th anniversary of Azerbaijan's membership in OIC
Iran's Energy Exchange announces products to be on sale on Dec. 8
OSCE Minsk Group Co-Chair countries release statement
Gunmen torch bus, kill 30 passengers in Nigeria's Sokoto state
Azerbaijan’s Central Bank talks dev’t strategy for securities market until 2023
Pfizer Shot Provides Partial Omicron Shield in Early Study
Australia joins diplomatic boycott of Beijing Winter Games
704 new COVID-19 cases reported in Kazakhstan
France reports record daily COVID-19 count
U.S. Senate backs $650 million missile sale to Saudi Arabia
Mandatory vaccination should be a last resort, says WHO Europe chief
Bolsonaro dismisses vaccination requirement for entry into Brazil
Israel announces completion of high-tech barrier around Gaza
Northern Ireland reports first Omicron cases
Police officer killed in NW Pakistan's firing
Sweden to reintroduce many COVID-19 measures as cases rise
Armenia has no choice but to open Zangazur corridor - experts
Turkey, Qatar strengthen bilateral ties with 15 new deals
Georgian parliamentary delegation visits Washington
Chinese company plans to build a technopark and solar power plant in Uzbekistan
WHO donates 260k packs of intravenous solutions to Iran
Cost of cargo transported via trains up in Azerbaijan
International Court of Justice grants Azerbaijan's request for temporary measures against Armenia
Western media shows neutral approach to Azerbaijan’s Zangazur corridor - Head of Trend News Agency’s Foreign Projects Directorate
Azerbaijan donates 100,000 doses of Sinovac vaccine against COVID-19 to Burkina Faso (PHOTO)
Information spread in Armenian media about killing of illegal militant on territory of Azerbaijan is baseless – MoD
Azerbaijani MFA comments on statement of Armenian foreign ministry
International Court of Justice urges Armenia to take urgent measures against groups and individuals making violent calls on ethnic grounds
International Court of Justice refused to secure Armenia's claim for immediate return of so-called POWs
Azerbaijan completes over half of construction of Barda-Aghdam highway
Azerbaijan building new high-speed road in Shusha city
Azerbaijan-Iran plan to build new bridge to increase traffic
Iran Securities and Exchange Organization focusing on strengthening Capital Market Stabilization Fund
Iran looks to expand agricultural ties with Romania
EIB, EBRD touch on Georgia’s economic growth
Price indexes of industrial, trade sectors at Uzbek stock exchange fall
Georgia shortens terms of COVID-19 booster vaccination
Azerbaijan shares data on 10M2021 oil exports to Vietnam
Uzbekistan shares stats on export of textile products for 10M2021
Kazakhstan's KMG talks project of new gas processing plant in Mangistau
Iran's Bahar Azadi gold coin price increases
Azerbaijan sees decrease in import of vehicles, spare parts over 10M2021
Volume of loaded/unloaded cargo in Iran’s Qeshm port up
Value of Azerbaijan's export to Turkmenistan up for 10M2021
Azerbaijan’s energy ministry opens tender to buy technical support services
Azerbaijan-Iran to take steps to increase trade turnover – Iranian ambassador
Shootout occurs on border between Azerbaijan and Iran - offender neutralized
Baku Int'l Sea Trade Port reveals details of dev’t strategy until 2035
First harvest gathered in mushroom greenhouse in Turkmenistan’s Mary region
Azerbaijan-Iran implementing agreements on joint cooperation – ambassador
Germany's next finance minister stresses price stability
SOFAZ shares estimates of budget revenues for 2022
Iran opens office for cargo barter with Pakistan
Number of legal entities restoring activity in Azerbaijan slightly increases in 11M2021
President Ilham Aliyev receives President for Exploration and Production of TotalEnergies (VIDEO)
Indian embassy in Baku holds webinar on electronic and computer hardware/software products (PHOTO)
Sport in Azerbaijan - integral part of state policy, deputy minister says
Bank of Israel bought $4 bln of FX in Nov, hits $34 bln in 2021
India's Rajnath Singh attends maiden 2+2 Dialogue with Russia
Less urgent need to rebuild stocks to weigh on coal demand
Omicron poses a major risk to global oil demand
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan confirms 1,530 more COVID-19 cases, 1,864 recoveries
Azerbaijan, Russia’s Astrakhan sign action program to develop co-op (PHOTO)
Georgia shares data on cigarettes turnover in 10M2021
President Ilham Aliyev signs order appointing new chairman of State Insurance Commerce Company
Georgia’s imports of fuel and lubricants from Kazakhstan plummet
EU health bodies recommend mix-and-match of COVID-19 vaccines
Georgian apple exports on rise
Number of taxpayers increases in Azerbaijan over 11M2021
Kazakhstan increases volume of production of crude oil and oil products
Kazakhstan shares data on coal production
Turkmenistan becomes top oil exporter to Georgia
Armenia should fulfill requirements of documents signed after Second Karabakh War – Turkish official
Google Pay begins operating in Israel
Volume of electricity production in Uzbekistan for 10M2021 unveiled
Azerbaijan records growth in cost of air cargo transport for 10M2021
Iran reveals COVID-19 data for December 7
All news