The price of oil did not prevent the collapse of the ruble

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The price of oil (June futures) to 16.01 MSK grew by 1.12% to 67,86 dollars per barrel for Brent. The black gold market responds to the reduced supply of fuel.
10 OPEC and the major oil-producing countries outside the cartel (OPEC+), since the beginning of last year has reduced the total supply to 1.8 million barrels a day. OPEC agree to extend the contract until the end of 2018, which helped oil to rise in the second half of last year, more than 50%.
The dollar 15.05 GMT ROS from the start of trading 3.1% to 59,96 rubles, Euro – by 3.3% to is 73.72 ruble. The risk premium on Russian assets sharply increased after Friday the introduction of sanctions against some Russian businessmen and companies controlled by them, in particular, against “RUSAL”. Investors are concerned that corporate risks other Russian companies will increase dramatically in the background.
The aggravation of the situation in Syria after allegations from the United States Bashar al-Assad in carrying out the chemical attack has also increased geopolitical risks as the United States say in this case, and about the responsibility of Russia, acting in Alliance with the government forces of Assad.
Until the end of the day, the U.S. currency will fluctuate in the range of 58.5-61.5 ruble, Euro – in the corridor from 72.2-75.8 ruble.
Ivan Marchena,
GK Forex Club