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Oil prices and dynamics of monetary market of Azerbaijan (Nov. 9-13)

Analysis Materials 16 November 2015 17:04 (UTC +04:00)

Oil market

The average price for AZERI LT, exported from Azerbaijan via the Ceyhan, Batumi and Supsa ports to the Italian Augusta port, was $46.4 per barrel on Nov. 9-13 or $2.76 per barrel less than the previous week.

The maximum price for AZERI LT was $48.09 per barrel and the minimum price was $44.29 per barrel during the reporting period.

The average price for Urals (Ex-Novo) exported from Azerbaijan via the Novorossiysk port stood at $40.29 per barrel or $3.56 per barrel less than the previous week.

The maximum price for Urals totaled $42.67 per barrel and the minimum - $38.85 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 $43.68 per barrel or $3.46 per barrel less than the previous week.

The maximum price for Brent was $46 per barrel and the minimum - $42.27 during the reporting period.

Currency market

The official exchange rate of Azerbaijani manat to the US dollar set by Azerbaijani Central Bank decreased by 0.0007 manats (0.0667 percent) this week. Accordingly, the average rate was set at 1.04948 manats to 1 US dollar.

During the week, the official exchange rate of manat to euro set by the CBA consolidated by 0.0147 manats (1.2704 percent). Accordingly, the average rate was set at 1.14914 manats to 1 euro.

This week, the price on one ounce of gold has decreased by 37.0457 manats (3.0919 percent).

Accordingly, the average price for gold stood at 1179.7059 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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