Oil prices slipped a day in a minus

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Russian ruble in the middle of the week showed mixed trading in pairs of foreign currencies. The US dollar to date is 61,98 RUB (-0,27%). The Euro is trading at 72,99 RUB (+0,26%). Official rates of the Central Bank of Russia for tomorrow, June 7, amount of 62.00 RUB for the American currency and 72,86 RUB for Euro. Both estimates revised to increase, 2 and 35 cents, respectively.
Oil prices slipped in the afternoon in the negative, but while the bears are inactive. A barrel of North sea Brent crude losing 0.1 percent and costs $75,32. Texas light oil WTI becomes cheaper on 0,6% and is trading at $65,12. Presented statistics from the API reflected a decrease in reserves of black gold in the United States for the week by 2 million barrels. From today’s publication of U.S. Department of energy is also waiting for the same indicator.
On the one hand, vanity and emotion around the proposals of the U.S. against Saudi Arabia and other countries-oil producers to increase production by 1 million barrels a day has settled. It is clear that faster operation will not be here, but once the conversations are, so the ideas not the first day wandering in the oil sector. On the other – all the bright negative factors, from Venezuela to Iran has already been priced in, and the glimpses of the positive market is clearly in the mood to buy.
The Finance Ministry today, as usual on Wednesdays, holds auctions on placement of OFZ. Investors are offered two issues of debt securities with a total amount of 30 billion rubles to 15 billion rubles each. Last week both editions sold out with oversubscription, this time the situation is assessed as positive. We already have the results of placement of issue 26223 – at a certain limit of requests is 31 billion. apparently, the ruble feels the support from this side.
The US dollar closed trading environment within 61,85-62,55, the Euro and within the boundaries of 72.80-is 73.55 RUB.
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Anna Bodrova,
Senior analyst,
Alpari