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Oil prices and dynamics of monetary market of Azerbaijan (23.08- 28.08.2010)

Analysis Materials 31 August 2010 12:02 (UTC +04:00)

Oil prices

Aug.23-27, the average price on Azeri Light CIF Augusta exported from Azerbaijan via the Ceyhan and Batumi ports was $75.36 per barrel, or $1.85 less than the previous price.

The maximum price was $77. 25 per barrel. The minimum price was $73.9.

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 $72.04 per barrel, or $0.81 less than the previous price.

The maximum price was $74.43 per barrel and the minimum - $670.02.

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 $73.15 per barrel, or $1.84 less than the previous price.   

The maximum price was $75.35 per barrel and the minimum - $71.28.

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

Monetary market

Last week the official rate of the manat against the US dollar, set by the Central Bank of Azerbaijan, consolidated by 0.0002 points or 0.02 percent. The average rate was established at 0.80378 manat to 1 U.S. dollar.

The maximum rate of the US dollar compared to manat was established Aug.24 (0.8039 manat  to 1 U.S. dollar) and minimum was established Aug. 26 and Aug.27  at 0.8037 manat 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 0.0014 points or 0.01  percent. The average rate was fixed at 0. 80388 to 1 U.S. dollar. 

Deals concluded last week at BEST with transition to currency (T+0) comprised: Aug.23 - $1,973 million with the average sustained rate of 0.8039 manats to 1 U.S. dollar, Aug.24 - $1.3 million with the average sustained rate of 0.8035 manats to 1 U.S. dollar, Aug. 25 - $2,032 million with the average sustained rate of 0.8039 manats to 1 U.S. dollar, Aug. 26 - deals were not concluded and the rate remained at the level 0.8039 manats to 1 U.S. dollar, and Aug.27 $7,349 million with the average sustained rate of 0.8038 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 remained without changes, so purchase was 5 manat, and sale - 6 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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