Oil prices and dynamics of monetary market of Azerbaijan (15.11- 19.11.2010)
The average price on Azeri Light CIF Augusta exported from Azerbaijan via the Ceyhan and Batumi ports was $85.86 per barrel, or $3 less than the previous price Nov. 15-19.
The maximum price was $87.36 per barrel. The minimum price was $85.04 per barrel on Nov. 15-19. 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 about $81.8 per barrel, or $3.8 less than the previous price. The maximum price was $83.5 per barrel and the minimum - $81 per barrel Nov. 15-19.
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 $84.05 per barrel, or $3.33 less than the previous price Nov. 15-19. The maximum price was $85.47 per barrel and the minimum - $83.26 per barrel. Brent Dated's density is 38.3 degrees API with a sulfur content of 0.36 percent.
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. 79998 manat to 1 U.S. dollar.
The maximum rate of the US dollar compared to manat was established on Nov.19 (0.8002 manat to 1 U.S. dollar) and minimum was established on Nov.15,16 and 17 at 0.7999 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) decreased by 0.0006 points or 0.06 percent and was 0.79992 to $1.
Deals concluded last week at BEST with transition to currency (T+0) comprised: Nov.15,16 and 17 - no deals were concluded, so the rate remained without change at 0.7989 AZN/USD, Nov.18 - $3,.2 million with exchange rate of 0.7989 AZN/USD and Nov.19 - $7.37 million with exchange rate of 0.7995 AZN/USD.
No deal was concluded with USD/AZN T+1 and T+2 due to too few appeals by dealers. Appeals were not received on RUB/AZN and EUR/AZN.
Market of privatization shares
Last week, the price on privatization vouchers remained without changes, with purchases was running for five manat and sales for six manat. President Ilham Aliyev's decree on additional measures to ensure the use of state privatization vouchers prolonged the validity period until Jan. 1, 2011. This decision was made as roughly 80 percent of the vouchers were still in circulation.