Oil prices and dynamics of monetary market of Azerbaijan (March 14-18)
The average price for AZERI LT CIF, extracted on the block of Azerbaijani fields Azeri-Chirag-Guneshli, was $41.23 per barrel on March 14-18 or $0.5 per barrel more than the previous week.
The maximum price for AZERI LT was $42.82 per barrel and the minimum price was $39.6 per barrel during the reporting period.
Azerbaijan sells AZERI LT via the Turkish port of Ceyhan and Georgian ports - Batumi and Supsa. The oil is supplied to Ceyhan via the BTC pipeline and to Georgia - via the Baku-Supsa pipeline and railway.
The average price for Urals (Ex-Novo) exported from Azerbaijan via the Novorossiysk port was $36.46 per barrel on March 14-18 or $1.46 per barrel more than the previous week.
The maximum price for Urals totaled $37.94 per barrel and the minimum - $35.32 per barrel on March 14-18.
The average price for Brent Dated was $38.86 per barrel on March 14-18 or $0.3 per barrel less than the previous week.
The maximum price for Brent was $40.24 per barrel and the minimum - $37.42 during the reporting period
The official exchange rate of Azerbaijani manats to the US dollar set by Azerbaijani Central Bank (CBA) increased by 0.044 manats (2.8 percent). Accordingly, the average rate was set at 1.61984 manats to 1 US dollar.
During the week, the official exchange rate of manats to euro set by the CBA increased by 0.0254 manats (1.4 percent). Accordingly, the average rate was set at 1.81084 manats to 1 euro.
This week, the price of one ounce of gold dropped by 52,854 manats (2.6 percent).
Accordingly, the average price for gold reached 2019,79418 manats.
The trading at Baku Interbank Currency Exchange (BBVB) has not been carried out since early 2015, so the exchange rate of manats is not formed.