Oil market
The average price for AZERI LT CIF, extracted on the block of Azerbaijani fields Azeri-Chirag-Guneshli, was $50.46 per barrel on June 20-24, or $1.18 per barrel more than the previous week.
The maximum price for AZERI LT was $51.05 per barrel and the minimum price was $49.41 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 $46.29 per barrel on June 20-24, or $0.88 per barrel more than the previous week.
The maximum price for URALS was $46.81 per barrel and the minimum was $45.01 per barrel on June 20-24.
Azerbaijan sells the oil supplied via the Baku-Novorossiysk pipeline through this Russian port.
The average price for Brent Dated was $48.39 per barrel on June 20-24, or $0.92 per barrel more than the previous week.
The maximum price for Brent was $48.89 per barrel and the minimum was $47.48 per barrel during that period.
Currency market
The official exchange rate of Azerbaijani manat to the US dollar set by Azerbaijan’s Central Bank (CBA) decreased by 0.0122 manats (0.8021 percent) last week. Accordingly, the average rate was set at 1.52706 manats to $1.
During the week, the official exchange rate of manat to euro set by the CBA strengthened by 0.052 manats (3.0046 percent). Accordingly, the average rate was set at 1.7183 manats to 1 euro.
Last week, the price of one ounce of gold decreased by 28.0263 manats (1.4276 percent). Accordingly, the average price for gold reached 1946.0707 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.