Oil price supports Iran and Israel

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Russian ruble on Monday, the inactive trading in pairs of foreign currencies. “Russian” ignores the surge of activity in oil, regarding it, apparently, too emotional. The US dollar to date is 56,41 RUB (+0,03%). The Euro is trading at 69,97 RUB (+0,02%). Official rates of the CBRF for tomorrow, February 20, 56,34 make up a RUB for the American currency and RUB for 69,90 euros. Both estimates revised lower to 1 and 74 cents respectively.
Commodity market on Monday, holding on in positive territory due to a deteriorating geopolitical backdrop in the middle East. Again the question arises about the Iranian nuclear program, only this time he initiates Israel. If the Israeli replica against Iran will not get continue, emotional prize in the oil will deflate as quickly as it came. A barrel of Brent to the present time worth $65,15 (+0,5%).
Friday’s statistics from Baker Hughes, meanwhile, maintains bearish tone. The number of drilling rigs in the United States have not changed compared to the previous week’s yoy growth is now 224 units.
Factor in the tax period for the ruble will come into force towards the end of the week, but overly relying on it is not worth it. The pair dollar/ruble is stabiliziruemost in the same low range of 56.20-56,85 RUB over the “American”, the pair Euro/ruble within the boundaries of the 69,80-70,45 RUB for Euro.
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Anna Bodrova,
Senior analyst,
Alpari