The price of Azeri Light has risen by $1.89 or 2.48 % to $78.02 a barrel.

Today, a bilateral currency auction was held at the Central Bank, in which SOFAZ also participated.

The prices of main precious metals increased in Azerbaijan on June 6, according to the data published by the country’s Central Bank.

Oil prices go up

During the NYMEX electronic trading operations, the WTI crude oil rose by $0.30 or 0.46% to $65.82 a barrel, APA-Economics reports.

Customs revenues of Azerbaijan’s state budget amounted to 1.323 million manats for the five months of this year, Chairman of Azerbaijan’s State Customs Committee Safar Mehdiyev told reporters in Baku June 5.

Over the past five years, the European Union (EU) countries have invested more than $15 billion in Azerbaijan's economy, Deputy Minister of Economy of Azerbaijan Rufat Mammadov said in his speech at the EU-Azerbaijan business forum June 5.

On June 7 an auction on placement of book-entry, interest bearing mortgage bonds of Azerbaijan Mortgage and Credit Guarantee Fund (AMCGF) with the volume of AZN 20 million will be held at Baku Stock Exchange.

Azerbaijan has ranked 1st among the CIS countries in terms of road quality.

The price of palladium increased in Azerbaijan June 4, and the cost of other main precious metals decreased, according to the data published by the country’s Central Bank.

Oil prices go down

During the NYMEX electronic trading operations, the WTI crude oil dropped by $0.07 or 0.11% to $65.74 a barrel, APA-Economics reports.

Steps should be taken to increase parliament’s control over the budget, MP Ali Masimli said during discussion of draft law on state budget for 2017 at the plenary meeting.

In January-April 2018, 847,600 foreigners from 182 countries visited Azerbaijan, up 13.4% from previous year.

The Iranian deputy minister of industries, mining and trade stressed the need for enhanced cooperation between Iranian and Austrian small and medium-sized enterprises (SMEs).

Kazakhstan’s SCAT airline made its first flight to the Lithuanian capital Vilnius, which, at the same time, is the company's first flight to a EU country, Kazakh media outlets reported.

‘We can expand the Southern Gas Corridor in the future’, SOCAR Vice President for Investments and Marketing Vitali Baylarbayov said at the 25th Caspian Oil and Gas Conference.

During past two years, Azerbaijan invested $14 billion Turkey and Turkey invested $12 billion in Azerbaijan, Chairman of Board and Director General of Turkish Petroleum company Melih Han Bilgin said at the 25th Caspian Oil and Gas Conference.

Precious metals recovered following a few weeks of headwinds caused by rising yields and a stronger dollar, Ole Slot Hansen, head of department of strategy at Saxo Bank, told Trend.

Azerbaijani government plans to conduct reforms in energy sector, Janez Kopač, the Director of the Energy Community Secretariat, said at the South Caucasus Energy Summit in Tbilisi.

The crisis around US withdrawal from Iran nuclear deal may lead to reformation of the world oil market, Rosneft President Igor Sechin said at the St. Petersburg International Energy Forum. 

Assets of banking sector make up AZN 27.9 billion, loan portfolio – AZN 11 billion, of which AZN 7 billion or 60% falls to share of business loans, head of Azerbaijan Banks Association (ABA) Zakir Nuriyev said.

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