Oil prices and dynamics of monetary market of Azerbaijan (Apr.7-10)
The average price for AZERI LT, exported from Azerbaijan via the Ceyhan, Batumi and Supsa ports to Italian Augusta port, was $59.54 per barrel on Apr.7-10, or $1.89 more than the previous week.
No oil trades were conducted April 6 due to the Catholic Easter.
The maximum price for AZERI LT was $60.43 per barrel and the minimum price was $58.77 per barrel during the reporting period.
The average price for Urals (Ex-Novo) exported from Azerbaijan via the Novorossiysk port stood at $55.66 per barrel or $2.73 per barrel more than the previous week.
The maximum price for Urals totaled $56.2 per barrel and the minimum - $54.61 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 $56.78 per barrel or $2.25 per barrel less than the previous week.
The maximum price on Brent was $57.56 per barrel and the minimum - $56.06 during the reporting period.
The official exchange rate of Azerbaijani manat to the US dollar set by the Azerbaijani Central Bank (CBA) weakened by 0.0033 manats (0.31 percent) last week. Accordingly, the average exchange rate was set at 1.0507 manats to 1 US dollar.
During the week, the official exchange rate of manat to euro, set by the CBA strengthened by 0.0286 manats (2.48 percent).
Accordingly, the average weighted rate was set at 1.13934 manats to 1 euro.
Last week, the price for one ounce of gold increased by 0.0626 manats (0.05 percent). Accordingly, the average weighted price for gold amounted to 1262.95486 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.