The rate of oil grows on the Iranian issue

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The price of oil (July futures) on Tuesday 22 may to 14.40 MSK increased by 0.5% to 79.62 per barrel for Brent. “Black gold” receives support from assessments by investors of the situation in Venezuela after the elections in the country, where they continued to react to signs of easing of tension in trade relations between the US and China, which also supports the demand for oil.
Finally, the oil “bulls” playing on the Iranian issue. U.S. Secretary of state Mike Pompeo introduced a number of requirements which Iran must fulfill before the U.S. will agree to a new nuclear agreement with Tehran. Washington intended to impose “the toughest sanctions in history” if the Islamic Republic does not fulfill these requirements, he warned.
The ruble continued to rise for a second day against the major reserve currencies, reflecting the peak of the tax period of may and has risen in the area of highs since mid-April. High oil prices also supported demand for the Russian currency.
By 14.35 GMT, the dollar was dropped from the start of trading 0.3% to 61,39 ruble, Euro — by 0.2% to 72,49 ruble, earlier on Tuesday, the Euro is testing support around 72 rubles. Until the end of the day, the U.S. currency will fluctuate in the range of 60.9-61.9 ruble, Euro – in the hallway 71,9-73.1 per ruble. The price of oil in rubles varies slightly below 4900 per barrel for Brent.
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Ivan Marchena,
Analyst
GK Forex Club