On January 21, 245.0 thsd mt of crude oil were sold at Resources Auction 125, which took place on the floor of the Ukrainian Interbank Currency Exchange. According to our source at the UICE, the average price of oil was UAH 1,334 per mt (down 8.0% from the previous Auction on December 24, 2008), or USD 19.4 per bbl (excluding VAT, at USD/UAH 7.8075, down 6.5%).
The total volume offered at Auction 125 was 416.4 thsd mt, 55% of which was sold.