Oil market
On July 6-10, the average price on Azeri Light CIF Augusta exported from Azerbaijan via the Ceyhan and Batumi ports was $64.7 per barrel.
The maximum price was $64.13 per barrel. The minimum price was $59.66.
Azeri Light's density is 34.6 degrees API with a 0.14-percent sulfur content.
The average price on Urals (Ex-Novo) exported from Azerbaijan via the Novorossiysk port was $60.04 per barrel.
The maximum price was $62.31 per barrel and the minimum - $58.42.
Urals' density is 32 degrees API with a 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 $60.6 per barrel.
The maximum price was $63.1 per barrel and the minimum - $58.76.
Brent Dated's density is 38.3 degrees API with a sulfur content of 0.36 percent.
After one day respite, the oil market continued to fall. As a result of investors' concerns over the economy and demand for raw materials, on July 10 the quotes for WTI crude oil futures fell below $60 per barrel.
As a result of trades on July 10 on the New York Mercantile Exchange, the prices for WTI oil futures with August delivery declined $0.52 to $59.89 per barrel. The August contract for Brent Crude on InterContinental Exchange in London reduced $0.58, totaling $60.52 per barrel.
The review issued by the International Energy Agency (IEA) on July 10 also caused concerns on the market. Despite that the organization expects an increase in global demand for "black gold" in 2010 at 1.7% to 85.2 million barrels per day, its forecast for the current year is very pessimistic - the world's oil consumption will decline 2.9%. Moreover, the IEA admit the probability that the reduction in energy consumption this year will be even more significant.
Currency market
Last week the official rate of the manat against the US dollar, set by the Central Bank of Azerbaijan, dropped 0.0001 points or 0.01 percent. The average rate was established at 0. 0.80426 manats to 1 U.S. dollar.
Last week the maximum rate of the US dollar compared to manat was established on July 8-9 (0. 8043 manats to 1 U.S. dollar) and minimum on July 6-7 (0.8042 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 0.0013 points (0.13 percent). The average rate was fixed at 0.80378 to 1 U.S. dollar.
Deals concluded last week at BEST with transition to currency (T+0) comprised: On July 6, $2.87 million with the average sustained rate of 0. 8028 manats to 1U.S. dollar, July 7 $6.25 million with the average sustained rate of 0.8040 manats to 1 U.S. dollar, July 8 $1.13 million with the average sustained rate of 0. 8040 manats to 1 U.S. dollar, on July 9 $0.63 million with the average sustained rate of 0. 8040 manats to 1 U.S. dollar and on July 10 $0.72 million with the average sustained rate of 0. 8041 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).
Market of privatization shares
Last week the price of the privatization vouchers remained the same - 9 manats, and sale - 10 manats. Price-cut (cost of vouchers exceeded 20 manats early 2009) is explained by reduction of rates of state property privatization, as the State Property Committee is currently undergoing structural transformation.
The validity period of the vouchers will expire on Jan. 1 2010.