The ruble following the oilDuring the day, the dollar was approaching 80 rubles ./$ euro exceeded 87 rubles. / €
The ruble still can not hold their ground without the help of oil. The decline in oil prices in the world market once again led to a sharp weakening of the Russian currency. Dollar on Tuesday trading the Moscow stock exchange has reached the level of 79.85 rubles ./$ and the euro -. 87.1 rubles / €. At the same time assured that the largest oil-producing countries will be able to agree on reducing production in the near future, market participants do not.The Russian currency long demonstrated its fortress. Another there has been a weakening of the ruble at the end of the day on Monday. On Tuesday, amid a sharp decline in oil prices leading currency in the Russian market have updated local maxima.
In the first half of the trading session on the Moscow Stock Exchange the dollar has reached the level of 79.85 rubles ./$. Compared with the closing of the main course of the session on Monday rose by almost 3 rubles. A similar trend and showed the euro, which at the peak exceeded the mark of 87.1 rubles. / €, exceeding the index by 3.3 rubles on Monday. However, above these marks rates did not go - in the second half of trading observed stabilization. By closing the main session ruble regained his position. The dollar back below 79 rubles ./$ stay at around 78.9 rubles ./$. The euro dropped to a level of 86 rubles. / €.
Meanwhile, continued today started on Monday in oil prices. According to Reuters, quotes Brent North Sea crude oil on the spot market fell today to $ 29.5 per barrel - by 7.8% below the previous day's close. Quotations of Russian Urals decreased by 8.1% to $ 28.5 per barrel. The correction in the second half of the day only slightly recovered oil prices (up to $ 30.2 per barrel for Brent and $ 29.2 per barrel for Urals), leaving them below the Monday at 5.4-6%.The market is not optimistic when assessing the ongoing negotiations between the major oil-producing countries on the possible reduction of production levels. As the head of research of commodity markets of the bank Julius Baer Norbert Rücker, "Perspectives on the controlled reduction of the volume of oil production in Saudi Arabia and Russia, at best, remain very vague." Especially since most of the oil powers need of cash and are motivated to increase rather than reduce production, not least because of the return to the market of Iranian barrels of oil, the expert said. In such circumstances, to expect not only growth, but also to stabilize the price of oil would be premature.
The ruble still can not hold their ground without the help of oil. The decline in oil prices in the world market once again led to a sharp weakening of the Russian currency. Dollar on Tuesday trading the Moscow stock exchange has reached the level of 79.85 rubles ./$ and the euro -. 87.1 rubles / €. At the same time assured that the largest oil-producing countries will be able to agree on reducing production in the near future, market participants do not.The Russian currency long demonstrated its fortress. Another there has been a weakening of the ruble at the end of the day on Monday. On Tuesday, amid a sharp decline in oil prices leading currency in the Russian market have updated local maxima.
In the first half of the trading session on the Moscow Stock Exchange the dollar has reached the level of 79.85 rubles ./$. Compared with the closing of the main course of the session on Monday rose by almost 3 rubles. A similar trend and showed the euro, which at the peak exceeded the mark of 87.1 rubles. / €, exceeding the index by 3.3 rubles on Monday. However, above these marks rates did not go - in the second half of trading observed stabilization. By closing the main session ruble regained his position. The dollar back below 79 rubles ./$ stay at around 78.9 rubles ./$. The euro dropped to a level of 86 rubles. / €.
Meanwhile, continued today started on Monday in oil prices. According to Reuters, quotes Brent North Sea crude oil on the spot market fell today to $ 29.5 per barrel - by 7.8% below the previous day's close. Quotations of Russian Urals decreased by 8.1% to $ 28.5 per barrel. The correction in the second half of the day only slightly recovered oil prices (up to $ 30.2 per barrel for Brent and $ 29.2 per barrel for Urals), leaving them below the Monday at 5.4-6%.The market is not optimistic when assessing the ongoing negotiations between the major oil-producing countries on the possible reduction of production levels. As the head of research of commodity markets of the bank Julius Baer Norbert Rücker, "Perspectives on the controlled reduction of the volume of oil production in Saudi Arabia and Russia, at best, remain very vague." Especially since most of the oil powers need of cash and are motivated to increase rather than reduce production, not least because of the return to the market of Iranian barrels of oil, the expert said. In such circumstances, to expect not only growth, but also to stabilize the price of oil would be premature.
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