Oil prices and dynamics of Azerbaijani currency market (Oct. 15-19)
On Oct. 15-19, the average price on AZERI LT, exported from Azerbaijan via the Ceyhan, Batumi and Supsa ports to Italian Augusta port, was over $115.14 per barrel or $0.79 per barrel less than the previous week. The maximum price for AZERI LT was $116.21 per barrel. The minimum price was $113.88. 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 $111.33 per barrel or $1.15 less than the previous week. The maximum price for Urals was $112.77 per barrel and the minimum - $109.68.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 $113.4 per barrel or $1.41 less than the previous week. The maximum price was $114.81 per barrel and the minimum - $111.62. 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) strengthened at 0,0001 points (0.01 percent). The average rate was established at 0.78514 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 0.0001 points (0.01 percent). The average rate was set at 0.78412 manat to 1 U.S. dollar.
Deals concluded last week at BEST with transition to currency (T+0) comprised: Oct. 15 - $1.1 million with exchange rate of 0.7841 AZN/USD, Oct. 16 - $2.963 million with exchange rate of 0.7841 AZN/USD, Oct. 17 - no deals were concluded, the exchange rate remained at 0.7841 AZN/USD, Oct. 18 - $10 million with exchange rate of 0.7842 AZN/USD and Oct. 19 - $3.544 million with exchange rate of 0.7841 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.