Oil prices and dynamics of monetary market of Azerbaijan (Apr.20-24)

Oil market

The average price for AZERI LT, exported from Azerbaijan via the Ceyhan, Batumi and Supsa ports to Italian Augusta port, was $64.27 per barrel on Apr.20-24, or $2.28 more than the previous week.

The maximum price for AZERI LT was $65.49 per barrel and the minimum price was $63.31 per barrel during the reporting period.

The average price for Urals (Ex-Novo) exported from Azerbaijan via the Novorossiysk port stood at $61.52 per barrel or $3.45 per barrel more than the previous week.

The maximum price for Urals totaled $63.84 per barrel and the minimum - $60.33 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 $61.68 per barrel or $2.9 per barrel more than the previous week.

The maximum price for Brent was $62.98 per barrel and the minimum - $60.64 during the reporting period.

Currency market

The official exchange rate of Azerbaijani manat to the US dollar set by the Azerbaijani Central Bank remained unchanged last week. Accordingly, the average weighted rate was set at 1.05044 manats to 1 US dollar.

During the week, the official exchange rate of manat to euro, set by the CBA increased by 0.0001 manats (0.01 percent). Accordingly, the average weighted rate was set at 1.12906 manats to 1 euro.

Last week, the price on one ounce of gold dropped by 18.4835 manats (1.48 percent). Accordingly, the average weighted price on gold amounted to 1254.25682 manats.

The 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.

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