Oil prices and dynamics of monetary market of Azerbaijan (April 23-28)
On April 23-27, the average price on Azeri Light CIF Augusta exported from Azerbaijan via the Ceyhan, Batumi and Supsa ports was $122.12 per barrel or $0.6 per barrel more compared to the previous week. The maximum price was $123.45 per barrel. The minimum price was $120.79. 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 more than $115.53 per barrel or more than $1.1 per barrel more compared to the previous week. The maximum price was $117,02 per barrel and the minimum - $113,97. 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 $117,83 per barrel or more than $0,81 per barrel more compared to the previous week. The maximum price was $119,27 per barrel and the minimum - $116,28. 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 (CBA), decreased by 0.0002 points (0.02 percent). The average rate was established at 0.7861 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), decreased by 0.0007 points (0.07). Last week, the average rate was set at 0.7858 manat to 1 U.S. dollar.
Deals concluded last week at BEST with transition to currency (T+0) comprised: April 23 no deal was concluded, therefore exchange rate remained at 0.7860 AZN/USD, April 24 - $2 million with exchange rate of 0.7854 AZN/USD, April 26 - $1.864 million with exchange rate of 0.7861 AZN/USD, April 27 - $0.351 million with exchange rate of 0.7861 AZN/USD.
No deal was concluded with USD/AZN T+1 and T+2 due to few appeals made by dealers. On appeals on RUB/AZN and EUR/AZN, appeals were not made.