The price of oil surged for a mark of 77 dollars per barrel

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Today on the stock exchange the ruble from the opening gradually depreciates. The dollar to date against the ruble increased by 0.12%, to RUB 67,981, and the Euro is rising against the ruble is almost the same as the dollar, is 0.17%, to RUB 79,546 CBR set for Friday, August 31, the official dollar rate at RUB 68,0821 the dollar and the Euro in 79,6765 RUB for Euro.
In the absence of internal negativity in the foreign exchange market is influenced by a rather unpleasant news with the other developing countries. The next round of collapse of the Turkish Lira and the fall in the Indian rupee coupled with the decline of several currencies in Latin America forced the ruble to retreat under the onslaught of the dollar and the Euro.
Meanwhile, the oil market lives its own life. Today on London’s ICE, the price of a barrel of Brent oil on the rise again, growth was 0.32%, to $77,89. Yesterday at the close of trading, oil prices broke through another resistance level at $77 per barrel, and today it has traded above this mark.
The incident on Monday, a fire at a refinery owned by Brazilian state-owned Petrobras, has led to increased demand in Brazil and several countries in Latin America for petroleum products from the United States, which in turn caused a reduction of commercial oil reserves and growth of prices on black gold. We expect the Brent oil price in the next few days will be moved to the corridor of $77.5-78.3 per barrel.
Our Outlook for the pair dollar/ruble remains within 67,5-68,5 rubles per dollar Euro/ruble also relevant previous range, 79-80 RUB for Euro.
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Natalia Milchakova,
The Deputy Director of analytical Department,
Alpari