Azerbaijan oil prices continue to drop
AZERI LT CIF price was $61.93 per barrel on 11 January (dropped $0.78 per barrel as compared to previous price). The density of Azeri Light is 34.6 degrees by API, sulphur content 0.14%.
URAL(EX-NOVO) price was $54.77 per barrel (dropped $0.50 per barrel). The density of oil URAL ranges from 30.4 to 31.85 degrees by API, sulphur content 1.8%.
Brent price (DTD) was $60.77 per barrel (dropped $1.26 per barrel). The density of oil DTD is 38.3 degrees by API, sulphur content 0.36%.
AZERI LT CIF quotes represent the cost of the Azerbaijani oil with delivery to the Mediterranean ports, shipped by shareholders of the Azerbaijan International Operating Company (AIOC) at the Georgian terminal in Supsa. URAL(EX-NOVO) quotes represent the cost of oil, shipped in the Russian terminal Novorossiysk.
Meanwhile, traders working in the European market told Trend, freight rate of vessels with the deadweight of 135,000 tons for the transportation of oil and dark oil products from the Novorossiysk port to Augusta increased to ws240 points. The similar rates for vessels with the deadweight of 80,000 tons comprise ws250. The rates for vessels with the deadweight of 30,000 tons in the route from the Black Sea to Augusta make up ws435, while for the transportation of the oil and light products from Novorossiysk to Augusta by vessels with the deadweight of 30,000 ws400.