The price of oil: Iran has threatened to block the Strait of Hormuz

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The price of oil (October futures) on Tuesday 7 August to 14.58 increased by 1.4% to 74,80 per barrel for Brent. The market of “black gold” goes to the level of 75 dollars per barrel amid recovery 7 Aug America the first package of sanctions against Iran. Is introduced, in particular, a ban on the sale of dollars to the Iranian government and on the purchase of Iranian government debt securities.
If Iran does not fulfill the requirements of the US in nuclear research, in November, will be introduced more stringent measures to restrict Iran’s oil exports.
Meanwhile the previously high-ranking representatives of the Islamic Republic stated that in the event of a ban on oil imports from the country they will not allow other exporters to transport oil through the Strait of Hormuz.
The rouble on this background is slightly strengthened against the greenback and steady against the Euro, which fоrex went to the district of $ 1,16. However, a limiting factor for the growth of the Russian currency remain the sanctions risks after the introduction in Congress of a bill on new sanctions against Russia. It including involves serious measures against the Russian financial sector.
The dollar 14.55 GMT decreased from the start of trading by 0.4% to 63,51 of the ruble, the Euro has not changed for about 73,63 of the ruble. The ruble price of a barrel of Brent crude hovering around the 4750 mark.
Until the end of the day, the U.S. currency will be in the range of 63-64 of the ruble, the Euro – in the corridor 73-74,2 rubles.
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Ivan Marchena,
Analyst
GK Forex Club