The rate of oil in an attempt to recover losses

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The price of oil (October futures) on Friday 10 August to 14.06 increased by 0.4% to 72,36 dollars per barrel for Brent.
The market of “black gold” continues to be at the level of $ 72 per barrel. Prices stabiliziruemost amid conflicting signals. On the one hand, countries outside OPEC, in July and performed only 44% of its obligations on reduction of oil production, estimated the International energy Agency (IEA). Earlier, OPEC+ decided to increase production in the framework of a smooth exit from the transaction to reduce production.
On the other, the IEA raised its forecast for growth in oil demand in the world market in 2019 by 100 thousand barrels to 1.5 million barrels per day.
Ruble tries to stabilize after two days of collapse. The growth of the major reserve currencies against the ruble on this wave reached 5%, and market participants on the third day a little profit-taking, while the dollar and renewed in the morning, the highest since July of 2016 at the level of 67.12 ruble. Exporters are also preparing for the tax period August, in Russia, selling the proceeds at a favorable rate.
In the end the dollar to 14.03 GMT increased from the start of trading 0.3% to 66.86 ruble, the Euro was down 0.4% to 76,67 of the ruble. The ruble price of a barrel of Brent crude fluctuates around the level of 4850.
Until the end of the day, the U.S. currency will be in the range of 66.4-67.4 ruble, Euro – in the hallway of 76.1 77.3 ruble.
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Ivan Marchena,
Analyst
GK Forex Club