Oil will remain under pressure from data of U.S. Department of energy

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The price of oil (July futures) on Thursday, may 24 to 14.27 MSK decreased by 1.2% to 78,81 dollars per barrel for Brent. The market of black gold remains under pressure, the weekly US Department of energy. The oil reserves in this country, except for a strategic reserve, the week to 18 may unexpectedly jumped by 5.8 million barrels to 438,1 million barrels. Analysts were expecting the inventory decline by 1.57 million barrels. 2 thousands of barrels of increased oil production in the United States during the reporting period.
As for the ruble, it attempts a day to stabilize the dollar and reduced the Euro on the background of the recent rebound above $ 1.17 per dollar on forex.
So, to 14.25 Moscow time the dollar grew from the start of trading by 0.06% to 61,36 of the ruble, the Euro by 0.23% to 71,87 of the ruble. Until the end of the day, the U.S. currency will fluctuate in the range of 60.8-61.8 ruble, Euro – in the hallway of 71.3-72.5 ruble. The price of oil in rubles is around 4,850 per barrel for Brent.
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Ivan Marchena,
Analyst
GK Forex Club