Oil prices and dynamics of monetary market of Azerbaijan (May 27-31)
On May 27-31, the average price on AZERI LT, exported from Azerbaijan via the Ceyhan, Batumi and Supsa ports to Italian Augusta port, was about $104.19 per barrel or $1.18 less compared to the previous week.
The maximum price of AZERI LT was $106.23 per barrel. The minimum price was $102.5 per barrel.
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 Novorossiysk port was $101.39 per barrel or $0.35 less compared to the previous week.
The maximum price for Urals was $103.9 per barrel and the minimum - $99.39 per barrel.
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 $101.64 per barrel or $0.67 less compared to the previous week.
The maximum price was $103.11 per barrel and the minimum - $100.41.
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 Azerbaijani Central Bank (CBA) remained unchanged. 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: May 27, 28 and 30 - no deals were concluded, therefore the exchange rate remained at 0.7836 AZN/USD, May 29 - $6.65 million with the exchange rate of 0.7836 AZN/USD, May 31 - $4.72 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.