Oil prices and dynamics of monetary market of Azerbaijan (Mar.9-12)
The average price for AZERI LT, exported from Azerbaijan via the Ceyhan, Batumi and Supsa ports to Italian Augusta port, was $58.77 per barrel on Mar.9-12 or by $3.55 less than the previous week.
The maximum price for AZERI LT was $60.96 per barrel and the minimum price was $56.86 per barrel during the reporting period.
The average price on Urals (Ex-Novo) exported from Azerbaijan via the Novorossiysk port stood at $53.96 per barrel or by $3.33 per barrel less than the previous week.
The maximum price for Urals totaled $56.05 per barrel and the minimum - $52.11 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 for Brent Dated was $56.4 per barrel or by $3.88 per barrel less than the previous week.
The maximum price on Brent was $58.47 per barrel and the minimum - $54.41 during the reporting period.
The official exchange rate of Azerbaijani manat to the US dollar set by the Azerbaijani Central Bank (CBA) strengthened by 0.0001 manats (0.01 percent) last week. Accordingly, the average exchange rate was set at 1.04902 manats to 1 US dollar.
During the week, the official exchange rate of manat to euro, set by the CBA strengthened by 0.0443 manats (3.98 percent).
Accordingly, the average weighted rate was set at 1.12494 manats to 1 euro.
Last week, the price for one ounce of gold dropped by 52.303 manats (4.3 percent). Accordingly, the average weighted price for gold amounted to 1224.15436 manats.
Trading at Baku Interbank Currency Exchange (BBVB) has not been carried out since the beginning of the year, so the exchange rate of manat is not formed.