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Oil prices and dynamics of monetary market of Azerbaijan (April 21-25)

Analysis Materials 29 April 2014 14:59 (UTC +04:00)

Oil market

The average price on AZERI LT, exported from Azerbaijan via the Ceyhan, Batumi and Supsa ports to Italian Augusta port, was $112.37 per barrel on April 21-25 or $0.37 more compared to the previous week.

The maximum price for AZERI LT was $113.19 per barrel. The minimum price was $111.85 per barrel.

The average price on Urals (Ex-Novo) exported from Azerbaijan via the Novorossiysk port was $107.23 per barrel or $0.09 more compared to the previous week.

The maximum price for Urals was $108 per barrel and the minimum - $106.75 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 $109.01 per barrel or $0.12 more compared to the previous week.

The maximum price on Brent was $109.78 per barrel and the minimum - $108.46.

Currency market

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 0.7843 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 0.7830 manat to 1 U.S. dollar.

Deal concluded last week at BEST comprised: April 21 - $1.07 million, April 22 - $3.196 million, April 23 - $3.674 million, April 24 - $ 2.115 million and April 25- $3.813 million.

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.

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