Photo: Eric Gay/AP
During today’s trading, a barrel of Brent crude oil rose more than 2%. Its price climbs above $52/bbl. for the first time since the beginning of June. Growth of oil contributed to the report US Department of energy on supply concerns
The cost of futures for oil of mark Brent with delivery in December 2016 for the first time since June 10, 2016 rose above $52 a barrel. The maximum cost of a barrel reached $52,1, which is 2.4% above the closing level of the previous trading session.
The rise in oil prices has accelerated after the publication of the US Department of energy data on the decline in volume of commercial oil reserves in the country. According to authorities, over the last week, inventories decreased by 1.9 million barrels (of 504.6 million to 502,7 million), remaining, nevertheless, higher for fall level.
According to experts Commerzbank, the main reason for the reduction of oil reserves in the United States was the reduction of oil imports, and do not fall in US crude oil continues to put pressure on the world market.
The rise in oil prices contributed to the strengthening of the ruble. During currency trading on the Moscow exchange, the dollar declined today to 62,2925 Euro — 69,79 to RUB.
“Increasing the price of oil is the main reason that over the past week among the currencies of developing countries, only the ruble managed to strengthen against the dollar. The ruble is significantly ahead in terms of the currencies of developing countries through higher oil prices and sales of foreign currency by the corporate sector. The pair dollar/ruble might stay around 62,50, while other emerging-market currencies retreat against the dollar”, — stated in the report of analysts of Sberbank CIB.
To 18:05 MSK cost of a barrel of Brent crude on the ICE futures exchange was $51,98, the dollar on the Moscow stock exchange reached 62,46 Euro — 69,965 RUB.