Oil prices and dynamics of monetary market of Azerbaijan (Oct. 24-29)
On Oct. 24-28, the average price on Azeri Light CIF Augusta exported from Azerbaijan via the Ceyhan, Batumi and Supsa ports was about $113.95 per barrel, or $0.13 less than the previous price. The maximum price was $114.79 per barrel. The minimum price was $112.88.
Azeri Light's density is 34.6 degrees API with 0.14-percent sulfur content. The average price on Urals (Ex-Novo) exported from Azerbaijan via the Novorossiysk port was $108.74 per barrel, or $1 more than the previous price. The maximum price was $109.67 per barrel and the minimum - $107.43.
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 $111.17 per barrel, or $0.02 more than the previous price.
The maximum price was $112.13 per barrel and the minimum - $109.8. Brent Dated's density is 38.3 degrees API with 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 , kept unchanged. The average rate was 0.7869 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) consolidated by 0.0009 points (0.09 percent) and hit 0.78646 manat to $1.
Deals concluded last week at BEST with transition to currency (T+0) comprised: Oct. 24 - $1.086 million with exchange rate of 0.787 AZN/USD, Oct. 25 - $1.715 million with the exchange rate of 0.787 AZN/USD, Oct. 26- $39.13 million with the exchange rate of 0.7861 AZN/USD, Oct.27- $3.1 million with the exchange rate of 0.7861 AZN/USD and Oct.28- $30 million with the exchange rate of 0.7861 AZN/USD.
No deal was concluded with USD/AZN T+1 and T+2 due to too few appeals by dealers.