The oil rose to the statements of officials from Saudi Arabia
The price of oil (November futures) to 16.04 GMT on Thursday 18th September increased 1.4 percent to 79.12 per barrel for Brent.
The market of “black gold” is growing on the background of verbal interventions. Thus, high-ranking representatives of Saudi Arabia believe the price of Brent crude oil above $ 80 per barrel is acceptable in the short term. The reason for this growth could be the consequences of US sanctions against Iran. Apparently, in preparation for privatization of a package Saudi Aramco, all means are good to raise prices.
Meanwhile, the ruble has updated on Tuesday against dollar since the end of August (67,43) and two weeks to Euro (78,97). Support comes from the decision of the Ministry of Finance of the Russian Federation for the second week in a row not to hold the auction to sell OFZ. In addition, the growth of the ruble contributes to the overall quiet situation in the emerging markets and the approach of the September tax period in Russia. Investors continue to win back the decision of CBR is not to buy for the Ministry of Finance the currency on the open market (in accordance with the budget rule).
In the end, the dollar 16.03 MSK decreased by 0.9% to 67,46 of the ruble, the Euro by 0.6 percent to 79.06 ruble. The ruble price of a barrel of Brent crude hovering below 5,35 thousand. Until the end of the day, the U.S. currency will fluctuate in the range 66,9-68,1 roubles, Euro – in the corridor of 78.3-79.7 ruble.
GK Forex Club