Oil market
Average price of AZERI LT CIF, extracted at Azerbaijan’s Azeri-Chirag-Gunashli block of fields, was $53.99 per barrel on Aug. 28-Sept. 1 or $0.08 per barrel more than the previous week.
The highest price of AZERI LT was $54.7 per barrel, while the lowest price was $53.38 per barrel, during the reported 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.
Average price of URALS (EX-NOVO), exported from Azerbaijan via the Novorossiysk port, was $49.9 per barrel on Aug. 28-Sept. 1 or $0.27 per barrel less than the previous week.
The highest price for URALS was $50.5 per barrel and the lowest price was $49.4 per barrel on Aug. 28-Sept. 1.
Azerbaijan sells the oil supplied via the Baku-Novorossiysk pipeline through Russia’s Novorossiysk port.
Average price of Brent Dated was $52.35 per barrel on Aug. 28-Sept. 1 or $0.44 per barrel more than the previous week.
The highest price for Brent was $53.02 per barrel and the lowest price was $51.75 during the reporting period.
Currency market
The official exchange rate of Azerbaijani manat against the US dollar set by the Central Bank of Azerbaijan (CBA) decreased by 0.0001 manats (0.0059 percent) last week.
Accordingly, the average rate was set at 1.70095 AZN/USD.
The official exchange rate of manat against euro set by the CBA increased by 0.0072 manats or 0.36 percent last week.
Accordingly, the average AZN/EUR rate was set at 2.03035 manats.
The official exchange rate of manat to Turkish lira set by the CBA increased by 0.0017 manats or 0.35 percent last week.
Accordingly, the average AZN/TRY rate was set at 0.49285 manats.
Last week, the price of one ounce of gold increased by 39.5917 manats or by 1.8 percent. Accordingly, the average price of one ounce of gold stood at 2,223.57785 manats.