Oil prices and dynamics of monetary market of Azerbaijan (oct.17-21)
On Oct.17-21, the average price on Azeri Light CIF Augusta exported from Azerbaijan via the Ceyhan, Batumi and Supsa ports was about $114.08 per barrel, or $0.18 less than the previous price.
The maximum price was $115.67 per barrel. The minimum price was $111.92. 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 $107.05 per barrel, or $1 less than the previous price.
The maximum price was $109.5 per barrel and the minimum - $105.42.
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 $111.15 per barrel, or $0.26 less than the previous price. The maximum price was $112.86 per barrel and the minimum - $109.17.
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 to the US dollar, set by the Central Bank of Azerbaijan , consolidated by 0.0001 points (0.01 percent). The average rate was established at 0. 78694 manat to 1 U.S. dollar.
As a result of last week's exchange, the rate of the Azerbaijani manat to the U.S. dollar, established based on results from the Baku Inter-bank Currency Exchange (BICEX) hit 0,787 manat to $1.
Deals concluded last week at BEST with transition to currency (T+0) comprised: Oct. 17 - $10 million with exchange rate of 0.787 AZN/USD, Oct. 18- $0.489 million with the exchange rate of 0.787 AZN/USD, Oct. 19-21 - no deals were concluded, the exchange rate remained to the amount of 0.787 AZN/USD.
No deal was concluded with USD/AZN T+1 and T+2 due to too few appeals by dealers.