Oil prices and dynamics of monetary market of Azerbaijan (May 30 - June 3)
The average price for AZERI LT CIF, extracted on the block of Azerbaijani fields Azeri-Chirag-Guneshli, was $50.54 per barrel on May 30 - June 3 or $0.06 per barrel less than the previous week.
The maximum price for AZERI LT was $51.55 per barrel and the minimum price was $49.97 per barrel during the reporting period.
Azerbaijan sells AZERI LT via the Turkish port of Ceyhan and Georgian Batumi and Supsa ports. 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 $46.03 per barrel on May 30 - June 3 or $0.28 per barrel more than the previous week.
The maximum price for Urals totaled $46.85 per barrel and the minimum - $45.64 per barrel on May 30 - June 3. Azerbaijan sells oil supplied via the Baku-Novorossiysk pipeline through this Russian port.
The average price for Brent Dated was $48.46 per barrel on May 30 - June 3 or $0.44 per barrel less than the previous week. The maximum price for Brent was $49.25 per barrel and the minimum - $48.03 during the reporting period.
The official exchange rate of Azerbaijani manats to the US dollar set by Azerbaijani Central Bank (CBA) decreased by 0.0058 manats (0.4 percent). Accordingly, the average rate was set at 1.49305 manats to 1 US dollar.
During the week, the official exchange rate of manats to euro set by the CBA weakened by 0.0097 manats (0.6 percent). Accordingly, the average rate was set at 1.66555 manats to 1 euro.
This week, the price of one ounce of gold increased by 1.2931 manats (0.07 percent).
Accordingly, the average price for gold reached 1812,2807 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.