The rate of oil waiting for news from OPEC+

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The price of oil on Monday 17 September to 14.36 increased by 0.7% to 78,65 dollars per barrel for Brent. The market of “black gold” is growing after declining in the previous two trading sessions, comes to 77.37 per barrel.
On the one hand, investors take into account in the price growth of 7 pieces number of active oil rigs in the United States at the end of last week. On the other, the meeting of representatives of OPEC+ at the meeting on 23 September in Algeria will bring clarity to the countries ‘ compliance with their obligations under the production up to the end of 2018.
In addition, members of the organization will consider further cooperation in 2019 on this issue. That is OPEC+ keeps abreast of the issue of the dynamics of oil prices.
The ruble on Monday, slightly adjusted downward after last week he has gained about 2 rubles against the dollar and the Euro. On the market it is observed a slight correction, the ruble gets boost from continued high oil prices.
Hopes for the softness of sanctions against Russian companies also support the ruble. So, the American Ministry of Finance said that contracts with companies controlled by Deripaska, in particular, “RUSAL”, you can continue to sign, with the condition that they will go to maintain business activity that began prior to April 6, when sanctions were imposed.
In the end the dollar to 14.34 IIC has increased since the start of trading at 0.1% to 68,11 of the ruble, the Euro by 0.4% to 79,40 ruble. The ruble price of a barrel of Brent crude hovering around 5.35 thousands.
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 to 78.7-80.1 ruble.
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Ivan Marchena,
Analyst
GK Forex Club