Review of 13 world oil prices for May 20-24

Azerbaijan, Baku, May 27 / Trend A.Badalova /

The average spot price in 13 varieties (including North American) last week (May 20-24) amounted to $101.17 per barrel compared to $101.61 per barrel the previous week.

The highest average price was observed for Malaysian Tapis, which amounted to $107.19 per barrel compared to $107.9 per barrel 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 a 0.1-percent sulfur content.

Average price for the Bonny Light oil produced in Nigeria hit $105.04 per barrel compared to $105.86 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 average price for North Sea Oseberg oil decreased by $0.79 per barrel to $103.23 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 $102.73 per barrel compared to $103.1 the previous week. Brent Dated's density is 38.6-39 -degrees API, with up to 1-percent sulfur content.

Last week the average spot price for Minas oil produced in Indonesia and for the high-sulfur oil Urals amounted to $102.24 per barrel. The price for Minas decreased by $0.89 per barrel, while URALS price decreased by $0.58 per barrel. 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. Urals is a mixture of oil produced in the Khanty-Mansi Autonomous District and Tatarstan. 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.

The average spot price for North Sea Forties was at $102 per barrel compared to $103.04 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.

Last week, the average spot price for the benchmark grade of oil from the Middle East Oman hit $101.46 per barrel compared to $101.15 per barrel the previous week. The density of the Oman oil is 36.3-degrees API, with a 0.8-percent sulfur content.

OPEC oil basket price increased by $0.25 per barrel to $100.72 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, 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 decreased by $0.32 per barrel to $100.47 per barrel. Dubai Crude is light oil whose density is 31 degrees-API with a 2-percent sulfur content.

Average spot price for the American Mars last week decreased by $0.66 per barrel to $98.49 per barrel. Mars's density is 28.9-degrees API with a 2.05-percent sulfur content.

The average spot price for the American West Texas Intermediate (WTI) last week increased by $0.11 pr barrel to $94.72 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 increased by $0.04 per barrel to $94.65 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.

Turkmenistan to expand co-o with Italian company for purchase of equipment
Turkmenistan to expand co-o with Italian company for purchase of equipment
Austrian company to help expand radio broadcasting networks in Turkmenistan
Austrian company to help expand radio broadcasting networks in Turkmenistan
Iran, Austria discuss joint coop. on containment of COVID-19
Iran, Austria discuss joint coop. on containment of COVID-19
Loading Bars
Latest
Ministry of Defense: Armenian Armed Forces resort to provocations to prevent operations of Azerbaijani army
Iran declares amount of loans issued to housing & construction sector
Armenia continues to use underage children in military hostilities (VIDEO)
Photo of another missile launched by Armenia against Azerbaijan unveiled (PHOTO)
President Ilham Aliyev on political objectives of Armenian military attack on Azerbaijan
In center of Baku, there is Armenian church, but mosques on occupied territories were destroyed - President Aliyev
With Georgia our relations are excellent, says Azerbaijani president
Armenian government should not try to frighten its population with Turkey - President Aliyev
And after war with Armenia stops, political settlement enforced, role of Turkey will be very important, very positive - President Aliyev
Wounds of war must be healed by political wisdom, by political will - President Aliyev
Armenian government should understand that they are not now in position to dictate - President Aliyev
Best way for future of Karabakh - to live in peace in harmony, try to become good neighbors again, says President Aliyev
Unlike Armenia, from Russia we buy weapons, we pay for them, says Azerbaijani president
Turkey is not involved in the conflict at all - Azerbaijani president
If Armenia didn’t violate ceasefire today clashes would have stopped - President Aliyev
We cleaned completely the Azerbaijani-Iranian border from Armenian occupants, and there will be no more inconvenience for our brothers across river of Araz in Iran - President Aliyev
If Armenia do not stop, we will go until end to liberate all occupied territories - Azerbaijani president
Azerbaijan became already regional hub for not only for energy, but also for transportation - President Aliyev
Armenia - occupier, it obliged to liberate territories of Azerbaijan - Lebanese political scientist
Loans of dead servicemen and persons affected by hostilities to be repaid in Azerbaijan
Recep Tayyip Erdogan: Azerbaijan begins to return its lands
Religious confessions of Azerbaijan demonstrate solidarity in fight against Armenian terror (VIDEO)
65 Azerbaijani civilians, including women, children, killed since beginning of Armenian provocation - Prosecutor General's Office
State-controlled international television and radio network Voice of America apologizes for its mistake (PHOTOS)
Russian Embassy in contact with family of teenager who died as result of Armenian shelling
Azerbaijani flag to be raised in Shusha, Agdere and other lands - MoD
Armenia gives updated list of its soldiers killed in Nagorno-Karabakh conflict zone
Weekly overview of Azerbaijan's financial market
Attacks by Armenia on territory of Azerbaijan - another act of military aggression, says Azerbaijani top official
Teenagers honor memory of Russian citizen who died as result of Ganja shelling by Armenian Armed Forces (PHOTO)
Iran discloses amount of loans issued to industrial and mining sectors
Iran reveals amount of loans issued to agricultural sector
Iranian Energy Exchange announces products to be on sale October 25
Buy/sell operations at Iran Mercantile Exchange decrease
Armenian army’s another combat UAV destroyed by Azerbaijan
Azerbaijan Air Forces destroy military equipment, infrastructure of Armenian troops
Armenian attempts to attack Azerbaijani army units suppressed
New data on Azerbaijani civil casualties, damages from Armenian attacks revealed
Azerbaijani military servicemen act within framework of int'l law - MoD
Terrorist acts against ancient city of Ganja target not only civilian population, but also historical monuments
Argentina extends COVID-19 restrictions until Nov. 8
Armenian terror walks streets of France - Lebanese legal expert
Azerbaijan confirms 220 more COVID-19 recoveries
Air Defense of Azerbaijan shoot down combat aircraft of Armenian Air Force
Reserves of Azerbaijan's Kalbajar region deposits to be re-examined, evaluated
Eight schoolchildren killed, 16 injured due to Armenian terror - Azerbaijan's Ministry of Education
Iran reveals its COVID-19 data for October 24
Azerbaijan fighting misrepresentation of its occupied territories on maps
Armenia shelling Azerbaijan’s Lachin and Gubadli districts from its territory
Import of Uzbek products into Azerbaijan increases
Value-added taxes paid by private sector down in Georgia
Volume of loans issued in Iran increases
Turkmen Ministry of Construction extends tender for construction of checkpoints
Unexploded missile on territory of Azerbaijan’s Goranboy (PHOTO)
Uzbekistan Airport announces tender for water pumps repair
Socio-economic issues in Azerbaijan - in center of attention during COVID-19 - Ali Ahmadov
Expert talks about sanctions against Armenia
Armenia must put end to attacks, illegal occupation of Azerbaijan's territory - Turkish Defense Ministry
Weekly review of events in Azerbaijani agricultural sector
Uzbekistan increases textile products manufacturing
Turkmen Health Ministry to purchase medical equipment via tender
Uzbek-Korean JV announces tender on transport services
Weekly review of Azerbaijan's precious metals market
Azerbaijan informs Russian embassy about Russian citizen killed by Armenia's attacks
Uzbek-Korean Uz-Kor Gas Chemical to buy filters via tender
Azerbaijani diaspora youth actively taking part in media fight against Armenia
Assistant to Azerbaijani president talks teenager killed due to Armenian terror (PHOTO)
Number of online payments reach record high in Georgia
Int'l financial institutions eye to provide assistance to Uzbekistan’s energy sector
Georgia’s coronavirus cases reach 26,503
Armenians barbarously exploited mineral deposits in Zangilan - Azerbaijani Ecology Ministry
Armenia at state level continues terror attacks on Azerbaijani civilians – assistant to president
Azerbaijani oil prices down
Teenager in Azerbaijan's Ganja city dies from wounds following Armenia's missile attack
Salt production growing in Turkmenistan
Uzbekistan's Ministry of Internal Affairs announces tender on equipment supply
Volumes of cargo transshipment from Algeria through Turkish ports revealed
Armenia shelling Azerbaijan’s Gubadli district by using artillery installations
Armenia's missile fire on Azerbaijan's Tartar kill 16-year old teenager - top official
Iran expects to expand oil barter with necessary goods
Azerbaijan's Naftalan, Tartar under heavy fire from Armenian troops
Georgia reveals ATM transaction statistics
Azerbaijani Armed Forces destroy military equipment of Armenia (VIDEO)
Azerbaijani Bar Association appeals to world's lawyers
Armenia's political leadership now has to take several difficult steps - Russian expert
Uzbekistan, China in talks over co-op in IT sphere
Weekly review of Azerbaijan's currency market
Armenian Armed Forces shelling settlements in Azerbaijan’s Tartar and Barda
Turkmenistan to expand its network of trading houses
Armenian armed forces firing at Azerbaijani territories in Goranboy-Naftalan direction
Armenian gov't using visit of German MPs to Nagorno-Karabakh region for propaganda
Azerbaijani president gives interview to Le Figaro newspaper (PHOTO)
OIC 'struck with astonishment' at unexpected discourse from certain French politicians
Ukraine puts Georgia on list of 'red zone' countries
Uzbekistan reveals its COVID-19 data for October 24
Turkmenistan to expand co-o with Italian company for purchase of equipment
Azerbaijan destroys Armenian strongholds, takes over important heights - MoD
Azerbaijan destroys Armenian army’s combat UAV (PHOTO)
Total assets of Bank of Baku increase
Iranian currency rates for October 24
All news