Dynamics of changes in some economic segments (10.05- 15.05.2010)

May 10-14, the average price on Azeri Light CIF Augusta exported from Azerbaijan via the Ceyhan and Batumi ports was $80.4 per barrel, or $3.2 less than the previous price.

The maximum price was $81.42 per barrel. The minimum price was $78.61. 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 $75.17 per barrel, or $2.5 less than the previous price.

The maximum price was $76.61 per barrel and the minimum - $73.35. 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 $78.39per barrel, or $3.46 less than the previous price. The maximum price was $79.42 per barrel and the minimum - $76.26.

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

As a result of trades on Friday, on the New York Mercantile Exchange the price of WTI crude oil futures for delivery in June fell by $2.79 to $71.61 per barrel. This is the minimum level of closing since February 5 this year. During the day, the quotations of futures for this oil dropped to $70.83 per barrel. On the InterContinental Exchange in London, June contract for Brent Crude fall by $2.93 $77.18 per barrel. Validity of the June futures for this kind of oil expired on May 14. The cost of the July contract fell by $3.5 dollars to $77.93 per barrel.

Currency market

Last week the official rate of the manat against the US dollar, set by the Central Bank of Azerbaijan, dropped by 0.0001 points or 0.01 percent. The average rate was established at 0.80356 manat to 1 U.S. dollar.

The maximum rate of the US dollar compared to manat was established May 12, 13 and 14 (0.8036 manat to 1 U.S. dollar) and minimum May 10 and 11 (0.8035 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), dropped by 0.0001 point or 0.01 percent. The average rate was fixed at 0.80364 to 1 U.S. dollar. 

Deals concluded last week at BEST with transition to currency (T+0) comprised: on May 10 deals were not concluded and the rate remained unchanged (0.8034 AZN/USD), May 11 deals were not concluded and the rate remained unchanged (0.8036 AZN/USD), May 12 $4.27 million with the average sustained rate of 0.80356 manats to 1 U.S. dollar, May 13 - $0.049 million with the average sustained rate of 0.8037 manats to 1 U.S. dollar, and May 14 - $2.25 million with the average sustained rate of 0.8037 manats to 1 U.S. dollar.

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

Market of privatization shares

Last week the price of the privatization vouchers stood at the same level, purchase was 9 manat, and sale - 10 manat. Under the President Ilham Aliyev's decree on additional measures for ensuring the use of the state privatization vouchers, the validity period of the vouchers was prolonged until Jan. 1, 2011. This decision was taken due to the fact that about 80 percent of the check is derived from the circulation.

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