Oil prices and dynamics of monetary market of Azerbaijan (May 19-23)
The average price on AZERI LT, exported from Azerbaijan via the Ceyhan, Batumi and Supsa ports to Italian Augusta port, was $113.84 per barrel on May 19-23, or $1.51 more compared to the previous week.
The maximum price for AZERI LT was $114.47 per barrel. The minimum price was $113.01 per barrel.
The average price on Urals (Ex-Novo) exported from Azerbaijan via the Novorossiysk port was $108.2 per barrel or almost $1 more compared to the previous week.
The maximum price for Urals was $108.74 per barrel and the minimum - $107.96 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 $110.86 per barrel or $1.27 more compared to the previous week.
The maximum price on Brent was $111.3 per barrel and the minimum - $110.36.
Last week the official rate of the manat to the U.S. dollar set by the Azerbaijani Central Bank remained unchanged. The average rate was established at 0.7844 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 0.7829 manat to 1 U.S. dollar.
Deal concluded last week at BEST comprised: May 19 - $0.948 million, May 20- $2.268 million, May 21 -$3.119 million, May 22 - $1.19 million and May 23 - $ 0.603 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.