The rate of oil has exceeded a mark 78 dollars, the ruble is irrelevant
The price of oil (November futures) Monday 3 September to 15.02 increased by 0.6% to 78,14 dollars per barrel for Brent.
The market of “black gold” updates the maximum with the first decade of July and had already risen on Monday to 78,31 dollar mark Brent. Support comes from the continuing fears that the US sanctions against Iran will reduce the energy supply in the world market. By September, production in the Islamic Republic could be reduced to 1.5 million barrels of oil per day compared to 2.3 million barrels in June.
While by and large ignored while the news about the increase of oil production in Libya (to more than 1 million barrels per day) and the USA (up to the record 10,674 million barrels a day in June).
The ruble continues to ignore the factor of high oil prices and after a strong push higher again slide down against the preservation of the risks of investing in emerging markets as a whole. Pressure on the ruble sector, in particular, added to expectations of rising geopolitical tensions in connection with Friday’s death of the head of DNR Alexander Zakharchenko and fears about a possible escalation of tensions in Syria.
In the end the dollar to 15.56 GMT increased from the start of trading by 0.8% to 68,07 of the ruble, the Euro by 0.8% to 79,03 of the ruble. The ruble price of a barrel of Brent crude is hovering around multi-year highs – of around 5.3 thousand.
Until the end of the day, the U.S. currency will be in the range of 67.5-68.7 ruble, Euro – in the hallway of 78.3-79.7 ruble.
GK Forex Club