Oil prices and dynamics of monetary market of Azerbaijan (August 12-16)

Oil market

On August 12-16, the average price on AZERI LT CIF, exported from Azerbaijan via the Ceyhan, Batumi and Supsa ports to Italian Augusta port, was $113.52 per barrel.

The maximum price of AZERI LT was $115 per barrel. The minimum price was $111.82 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 $109.4 per barrel.

The maximum price for Urals on August 12-16 was $110.72 per barrel and the minimum - $107.82 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 $110.9 per barrel.

The maximum price was $112.1 per barrel and the minimum - $109.17.

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 Azerbaijani Central Bank (CBA) cheapened by 0.0001 points (0.01 percent). The average rate was established at 0.78446 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 0.7835 manat to 1 U.S. dollar.

Deals concluded last week at BEST with transition to currency (T+0) comprised: August 16 - $647,000, August 12-15 - no deals were concluded.

No deals were concluded with USD/AZN T+1 and T+2 due to lack of appeals made by dealers. No appeals were made on RUB/AZN and EUR/AZN.

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