Oil price: Growth was supported by statistics Baker Hughes
Friday, oil prices made a moderate growth, although the day did not Bode well. Bidding began at $60,4 per barrel of Brent. After a morning of “sideways”, about noon, the price sharply dropped to $59,0, however, rebounding from that level had grown to $61,4, and finished the day at $61,1. Price growth was supported by statistics oilfield services company Baker Hughes. It showed a decrease in the number of active oil platforms in the U.S. four units for the week to 738 units. Monday morning oil continued moderate growth, reaching $61,6 per barrel.
Probable trading range for the remainder of the day for Brent crude is $60,9-62,0 per barrel. The medium range which is defined by the closest significant support levels and resistance was reduced to $56,9-62,0. A likely break of resistance at $62,0 will pave the way for growth to $65,3.
Most Western indexes finished Friday moderately higher. On this background the Russian market has behaved less clear. The ruble-denominated index Mosberg up 0.34%, but the dollar-denominated RTS index on the background of strengthening of the ruble rose by 0.19%. Among leaders of growth – preference shares “Tatneft” (+1.73%) and Safmar (+1,5%). Dow 30 increased by 0.26%. Monday morning the majority of indexes of Asia-Pacific countries increased by 0.1-0.6 percent.
The exception was Hong Kong’s Hang Seng, which lost about 0.1%. Futures on the S&P 500 index was trading near its 2 in the morning, 986 p., 0.16% above level of closing of the previous trading day. Moderate morning rise in oil prices and most Asian sites ask a favorable external background before opening the Russian stock market. Likely day the corridor index Mosberg is in the range of values 2770-2825 points, the RTS index — 1325-1355 points.
The Bank of Russia on Friday is expected cut its interest rate by 0.25 percentage points to 7% per annum, and gave to understand that until the end of the year the easing of monetary policy may continue. The market favorably reacted to the statements of the regulator, and the ruble strengthened markedly. At the end of the day on Masuria, the dollar fell to RUB 65,7300 (-48,5 COP.), and the European currency declined to 72,4975 RUB (-57 COP.). Morning growth of oil prices could contribute to further strengthening of the ruble. The expected daily range for the dollar is 65.1-66.4 per RUB, for the European currency — of 71.8 to 73.2 RUB.
Senior analyst at “Information-analytical center,