Oil prices and dynamics of monetary market of Azerbaijan (Jan. 13-17)
On Jan. 13-17, the average price on AZERI LT, exported from Azerbaijan via the Ceyhan, Batumi and Supsa ports to Italian Augusta port, was $109.87 per barrel or $0.002 more compared to the previous week.
The maximum price for AZERI LT was $110.6 per barrel. The minimum price was $109.05 per barrel.
The average price on Urals (Ex-Novo) exported from Azerbaijan via the Novorossiysk port was $102.61 per barrel or $0.97 less compared to the previous week.
The maximum price for Urals was $103.32 per barrel and the minimum - $101.91 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 $108.02 per barrel or $1.07 more compared to the previous week.
The maximum price on Brent was $108.53 per barrel and the minimum - $107.39.
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 0.78446 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: January 13- $ 7.047 million, January 15- $ 1.8 million, January 17- $ 4.956 million, January 14 and 16 - no deals were concluded.
No deal was concluded with USD/AZN T+1 and T+2 due to lack of appeals made by dealers. Appeals on EUR/AZN and RUB/AZN were not made by banks in BEST.