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Oil prices and dynamics of monetary market of Azerbaijan (April 22-26)

Analysis Materials 30 April 2013 16:38 (UTC +04:00)

Oil market

On April 22-26, the average price on AZERI LT, exported from Azerbaijan via the Ceyhan, Batumi and Supsa ports to Italian Augusta port, was $104.07 per barrel or $2.52 more compared to the previous week.

The maximum price of AZERI LT was $106.14 per barrel. The minimum price was $102.32.

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 Novorossiysk port was $99.64 per barrel or $2.3 more compared to the previous week.

The maximum price for Urals was $101.62 per barrel and the minimum - $97.88 per barrel.

Urals' density is 32 degrees API with 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 $100.61 per barrel or $2.45 more compared to the previous week.

The maximum price was $102.43 per barrel and the minimum - $99.08.

Brent Dated's density is 38.3 degrees API with sulfur content of 0.36 percent.

Currency market

Last week the official rate of the manat to the US dollar set by the Azerbaijani Central Bank (CBA) strengthened by 0.0001 points (0.01 percent). The average rate was established at 0.7846 manat to 1 U.S. dollar.

As a result of last week's exchange, the stock exchange price of the Azerbaijani manat to the U.S. dollar, established based on results from the Baku Inter-bank Currency Exchange (BICEX) remained unchanged. The average rate was set at 0.7836 manat to 1 U.S. dollar.

Deals concluded last week at BEST with transition to currency (T+0) comprised: April 22- no deals were concluded, so the exchange rate hit 0.7836 AZN/USD, April 23 - $4.829 million with exchange rate of 0.7836 AZN/USD, April 24 - no deals were concluded, so the exchange rate hit 0.7836 AZN/USD, April 25 - $2.634 million with the exchange rate of 0.7836 AZN/USD and April 26 - $3.319 million with the exchange rate of 0.7836 AZN/USD.

No deal was concluded with USD/AZN T+1 and T+2 due to few appeals made by dealers. No appeals were made on RUB/AZN and EUR/AZN.

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