Brent crude has updated the July maximum expecting bad weather in the Gulf of Mexico

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The price of oil (November futures) on Tuesday 4 September to 14.54 increased by 1.5% to 79,31 per barrel for Brent.
The market of “black gold” updates the high from July 10 and has been raised on Tuesday to 79.72 dollar mark Brent. Growth factor acts as a traditional autumn increased hurricane activity on the Gulf coast. The approach of hurricane “Gordon” led to the closure of two drilling platforms (Horn Mountain and Marlin) company Anadarko Petroleum Corp. in the Gulf.
The ruble on Tuesday konsolidiruyutsya, declining dollar and rising Euro, after the significant decline the day before. On the one hand, the pressure remains on the background of the General instability of exchange rates in emerging markets.
On the other, the rouble received support from moderately-hard (in terms of monetary policy) verbal interventions of the head of the CBR Elvira Nabiullina. She made it clear that the reduction of the key rate (from the current 7.25% APR) on Friday will not be exact. Moreover, in the economy, there are factors speaking in favor of a rate hike, said the head of the regulator. Inflation is rising quite rapidly in the area of the target level of 4%, estimated Nabiullina, arguing the expected decision of the Central Bank.
In the end the dollar to 14.52 GMT increased from the start of trading on 0,2% to 68,27 ruble, the Euro was down 0.3% to 78,95 of the ruble. The ruble price of a barrel of Brent crude updated multi-year highs – of around 5.4 thousand.
Until the end of the day, the U.S. currency will be in the range of 67.7-68.9 ruble, Euro – in the hallway of 78.3-79.7 ruble.
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Ivan Marchena,
Analyst
GK Forex Club