Oil prices and dynamics of monetary market of Azerbaijan (June 13-17)
The average price for AZERI LT CIF, extracted on the block of Azerbaijani fields Azeri-Chirag-Guneshli, was $49.28 per barrel on June 13-17, or $2.27 per barrel less than the previous week.
The maximum price for AZERI LT was $50.69 per barrel and the minimum price was $47.87 per barrel during that period.
Azerbaijan sells AZERI LT via the Turkish port of Ceyhan and Georgian ports of 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 $45.41 per barrel on June 13-17, or $2.23 per barrel less than the previous week.
The maximum price for URALS was $46.78 per barrel and the minimum was $43.88 per barrel on June 13-17.
Azerbaijan sells the oil supplied via the Baku-Novorossiysk pipeline through this Russian port.
The average price for Brent Dated was $47.48 per barrel on June 13-17, or $2.45 per barrel less than the previous week.
The maximum price for Brent was $49.16 per barrel and the minimum was $45.94 per barrel during that period.
The official exchange rate of Azerbaijani manats to the US dollar set by Azerbaijani Central Bank (CBA) decreased by 0.0066 manats (0.4367 percent) last week. Accordingly, the average rate was set at 1.5141 manats to $1.
During the week, the official exchange rate of manats to euro set by the CBA weakened by 0.0069 manats (0.4058 percent). Accordingly, the average rate was set at 1.705775 manats to 1 euro.
This week, the price of one ounce of gold increased by 61,9278 manats (3,2124 percent).
Accordingly, the average price for gold reached 1956,8113 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.