“The ruble strengthened slightly against the dollar and the Euro due to the growing oil

US dollar and the Euro are down slightly on the Moscow stock exchange on Thursday morning, the ruble strengthened against the currency basket amid rising oil update the highs from late 2014.

The first transactions in US dollar were in the range 57,10-57,20 rubles/$1, in the first minutes of trading course made 57.19 RUB/$1 (-3 kopeks to level of the previous closing). The Euro declined to 68,7475 rubles/EUR1 (-9,25 pennies), the value of the currency basket ($0.55 and EUR0,45) fell by 5.8 kopecks relative to Wednesday’s closing level, to 62,39 of the ruble.

The dollar has been 41.02 kopecks below the level of the current official exchange rate of the Euro – 11, and 93 kopecks below the official rate.

Economics04 Jan 2018Цены of oil continued to rise on signals of declining stocks in Scachitti read more

According to experts of “Interfax-CEA”, the ruble strengthened against the dollar and the Euro at the start of trading on 4 January due to rising global oil prices and demand of global investors for risky assets, including Russian stocks (the main Russian stock indexes opened on Thursday an increase of 0.2-0.3% after rising by 2-2,5% before).

Oil prices reference marks are raised in the course of trading on Thursday and traded close to the highest marks in three years for the signals of the next reduction of stocks of fuel in the United States. The cost of the March futures for Brent crude on London’s ICE Futures exchange at 10:01 Moscow time has grown on 0,43% – to $about 68.13 per barrel. Futures price for WTI crude oil for February in electronic trading on the new York Mercantile exchange were up this time by 0.78% to $62,11 per barrel. Eve Brent has risen in price on 1,91% – to $67,84 per barrel, the price of WTI rose by 2.09% to $61,63 per barrel. Both brands ended Wednesday at record levels since December 2014.

As reported yesterday, the American petroleum Institute (API), oil stocks in the U.S. last week fell by 5 million barrels. Official data of the Ministry of energy of the country will be announced on Thursday at 19:00 GMT, and experts on average predict that they will show a decrease in reserves by 4.7 million barrels. Gasoline inventories in the United States is expected to have grown for a week at 2 million barrels, distillates – on 1.3 million barrels. In addition, as shows the survey conducted by the Agency Bloomberg, oil production in OPEC countries in December, has not changed compared to the November level.

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