Dynamics of changes in some economic segments

Oil market

On May 11-15, the average price on Azeri Light CIF Augusta exported from Azerbaijan via the Ceyhan and Batumi ports was $58 per barrel or $2.8 per barrel more than the previous price.

The maximum price was $59.01 per barrel. The minimum price was $57.24.

Azeri Light's density is 34.6 degrees API with 0.14-percent sulfur content.

The average price on Urals (Ex-Novo) exported from Azerbaijan via the Novorossiysk port was $54.9 per barrel, or $2.54 more than the previous price. 

The maximum price was $55.86 per barrel and the minimum - $54.22.

Urals' density is 32 degrees API with sulfur content up to 1.3 percent. The oil grade's specifications vary when sold depending on its high/low-quality content.

The average price on Brent Dated was $56.52 per barrel, or $2.26 more than the previous price.   

The maximum price was $57.49 per barrel and the minimum - $5.82.

Brent Dated's density is 38.3 degrees API with sulfur content of 0.36 percent.  

Oil prices at trades on May 15 dropped nearly 4 percent. The pressure on the market was put by the pessimism of investors regarding fuel demand in the world due to fears that global economic recovery could begin later than expected. The fall in quotations of oil futures also contributed to the negative dynamics of stock index and the strengthening of the USD.

As a result of trades on May 15 on the New York Mercantile Exchange, the prices for WTI oil futures with June delivery declined $2.28 to $56.34 per barrel. The July contract for Brent Crude on InterContinental Exchange in London dropped $2.61, totaling $55.98 per barrel.      

The volume of the fuel consumption in the world continues to reduce under the weight of serious economic problems. Analysts consider that in 2009 the economic situation will not allow the oil demand to recover quickly. Recently, a number of macroeconomic indicators showed positive dynamics, causing market participants hope that the economy has reached a turning point.

Currency market

Last week the official rate of the manat against the US dollar, set by the National Bank of Azerbaijan, dropped 0.0002 points or 0.02 percent. The average rate was established at 0. 0. 8035 manats to 1 U.S. dollar. 

Last week the maximum rate of the US dollar compared to manat was established on May 14-15 (0. 8036 manats to 1 U.S. dollar) and minimum on May 12-13 (0. 8034 manats to 1 U.S. dollar).

As a result of last week's exchange rate of the Azerbaijani manat to the U.S. dollar, established based on results from the Baku Inter-bank Currency Exchange (BICEX), consolidated by 0.0003 points (0.03 percent). The average rate was fixed at 0. 80278 to 1 U.S. dollar. 

Deals concluded last week at BEST with transition to currency (T+0) comprised: on May 11 no deals were concluded and exchange rate remained the same 0. 8030 manats to 1U.S. dollar, on May 12 $4.67 million with the average sustained rate of 0. 8028 manats to 1 U.S. dollar, on May 13 $3.4 million with the average sustained rate of 0. 8027 manats to 1 U.S. dollar, on May 14 $0.9 million with the average sustained rate of 0. 8027 manats to 1 U.S. dollar and on May 15 $15.6 million with the average sustained rate of 0. 8027 manats to 1 U.S. dollar. 

No deal was concluded with USD/AZN T+1, T+2 and SWAP_USD/AZN due to an absence of appeals by dealers. Appeals were not received on RUB/AZN and EUR/AZN (Ň+1, Ň+2).

No deal was concluded with USD/AZN T+1, T+2 and SWAP_USD/AZN due to an absence of appeals by dealers. Appeals were not received on RUB/AZN and EUR/AZN (Ň+1, Ň+2).

Market of privatization shares

Last week the price of the privatization vouchers remained the same - 8 manats. The drop in prices (the price was 20 manat in early 2009) is attributed to drop in privatization rates.

The validity period of the vouchers will expire on Jan. 1 2010.

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