Oil becomes more expensive due to the strike in Norway

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Russian ruble in mid-day trading on Tuesday without a single idea in a basket of currencies. The US dollar to date is more expensive by 0.15% and is estimated at RUB EUR 62,56 slides down 0.2% and is 73,29 RUB Courses of the Bank of Russia for tomorrow, 11 July, reduced to American and European currency, to 62,44 RUB per U.S. dollar (-39 cents) and from 73.34 rubles for Euro (-59 cents) respectively.
The sector of oil continues to trade in the zone of unconditional positive. A barrel of North sea Brent costs $79,03 (+1.2%) and should be heading down to the peak on may 29 at $79,21. From there, close to the psychological mark of $80 per barrel. So the higher the market climbed for two months, not counting the burst of optimism the curtain may.
Oil now pushes up another speculative factor from those that have long been hidden from the exchange’s attention. So, in Norway going on strike the workers of gas and oil platforms, which have accumulated a lot of claims to his leadership regarding the wages and “top” companies to discuss this issue. In the first place would have an impact on the Knarr project Shell and ricocheted and other oil producers in the region.
Tonight the raw materials market is also waiting for the publication of fresh data on oil reserves in the United States from the API. Average forecasts based on survey results of Bloomberg, showing a decrease of the indicator by 3.8 million barrels. Gasoline stocks could fall by 1 million barrels, while distillate stocks would grow by the same amount.
The inflation expectations of the Russians consistently worse, but foreign exchange market does not react to this fact. Meanwhile, if consumer prices really accelerated, and for this many reasons, the pressure on the ruble will increase. The US dollar closed trading Tuesday in the hallway 62,50-63,15 RUB, the Euro will end the day in the borders 73,10-74,00 RUB.
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Anna Bodrova,
Senior analyst,
Alpari