Oil market
On Feb.20-24, the average price on Azeri Light CIF Augusta exported from Azerbaijan via the Ceyhan, Batumi and Supsa ports was over $126.4 per barrel, or $3.5 more than the previous price.
The maximum price was $128.1 per barrel. The minimum price was $124.78. 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 $120.64 per barrel, or over $3 more than the previous price. The maximum price was $122.06 per barrel and the minimum - $119.16.
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 $123.25 per barrel, or $2.88 more than the previous price. The maximum price was $124.99 per barrel and the minimum - $121.41.
Brent Dated's density is 38.3 degrees API with a sulfur content of 0.36 percent.
Currency market
Last week the official rate of the manat to the US dollar, set by the Central Bank of Azerbaijan (CBA), particularly did not change.
Last week the average rate was fixed at 0.78632 manat to 1 U.S. dollar, while a week earlier the rate was 0.78618 manat.
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), did not change and remained at 0.7853 manat to 1 U.S. dollar. Last week, the average rate was set at 0.7853 manat to 1 U.S. dollar.
Deals concluded last week at BEST with transition to currency (T+0) comprised: Feb.21 - $1.84 million with exchange rate of 0.7853 AZN/USD, Feb.22 - $1.072 million with exchange rate of 0.7853 AZN/USD, Feb.23 - $0.798 million with exchange rate of 0.7853 AZN/USD, Feb.24 - $0.372 million with exchange rate of 0.7853 AZN/USD and Feb.17 - $0.737 million with exchange rate of 0.7853 AZN/USD.
No deal was concluded with USD/AZN T+1 and T+2 due to too few appeals by dealers. On appeals on RUB/AZN and EUR/AZN, appeals were not made.