Oil prices and dynamics of monetary market of Azerbaijan (july 31-august 1)
The average price for AZERI LT, exported from Azerbaijan via the Ceyhan, Batumi and Supsa ports to Italian Augusta port, was $55.08 per barrel on July 27-31, or $2.86 less than the previous week.
The maximum price for AZERI LT was $55.52 per barrel and the minimum price was $54.02 per barrel during the reporting period.
The average price for Urals (Ex-Novo) exported from Azerbaijan via the Novorossiysk port stood at $50.73 per barrel or $2.79 per barrel less than the previous week.
The maximum price for Urals totaled $51.25 per barrel and the minimum - $49.72 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 $53.84 per barrel or $2.07 per barrel less than the previous week.
The maximum price for Brent was $54.43 per barrel and the minimum - $52.53 during the reporting period.
The official exchange rate of Azerbaijani manat to the US dollar set by the Azerbaijani Central Bank, weakened by 0.0003 manats (0.03 percent) last week. Accordingly, the average rate was set at 1.04912 manats to 1 US dollar.
During the week, the official exchange rate of manat to euro, set by the CBA consolidated by 0.0059 manats (0.5 percent). Accordingly, the average rate was set at 1.1557 manats to 1 euro.
Last week, the price on one ounce of gold increased by 7.3559 manats (0.65 percent). Accordingly, the average price on gold amounted to 1144.53612 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.