Oil lost over 1% after data about oil stocks in the United States
The price of oil (September futures) on Friday 6 July to 14.42 lost since the start of trading 1.1 percent to 76.56 per barrel for Brent.
The market of “black gold” is reduced, reflecting the unexpected growth of oil reserves in the U.S. last week (up 1.2 million barrels, while the forecast decline of 5.2 million). Additionally, the pressure on the energy market adds keeping America from July 6 to import duties of 25% on the 818 import of goods from China. The full price of the taxable products is equal to about 34 billion dollars.
The ruble amid a weak oil market natural gas to major reserve currencies. Risks of trade wars put pressure on all the currencies of the emerging markets and the ruble in particular. Market activity on the Russian Forex trades before the weekend low.
In General, the dollar 14.40 MSK increased from the start of trading on 0,2% to 63,22 of the ruble, the Euro by 0.4% to 74,08 of the ruble. The ruble price of a barrel of Brent fell to around 4850.
Until the end of the day, the U.S. currency will fluctuate in the range 62,8-63.8 ruble, Euro – corridor is 73.5-74.7 per ruble.
GK Forex Club