Oil prices and dynamics of monetary market of Azerbaijan ( Jan. 27 - 31 )
On Jan.27-31, the average price on AZERI LT, exported from Azerbaijan via the Ceyhan, Batumi and Supsa ports to Italian Augusta port, was $110.74 per barrel or $0.58 more compared to the previous week.
The maximum price for AZERI LT was $111.45 per barrel. The minimum price was $110.02 per barrel.
The average price on Urals (Ex-Novo) exported from Azerbaijan via the Novorossiysk port was $104.82 per barrel or over $0.69 more compared to the previous week.
The maximum price for Urals was $105.71 per barrel and the minimum - $104.12 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 $108.81 per barrel or $0.8 more compared to the previous week.
The maximum price on Brent was $109.68 per barrel and the minimum - $108.18.
Last week the official rate of the manat to the US dollar set by the Azerbaijani Central Bank (CBA) appreciated by 0.0001 points (0.01 percent). The average rate was established at 0.78426 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) appreciated at 0.0005 points (0.05 percent). The average rate was set at 0.7834 manat to 1 U.S. dollar.
Deals concluded last week at BEST with transition to currency (T+0) comprised: January 27- $ 2.37 million, January 28- $ 1.858 million, January 29- $ 0.114 million at the exchange rate of 0.7835 AZN/USD, January 31 - $3.5 million at the exchange rate of 0.7830 AZN/USD, January 30 - 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.