Brent price drops below $ 39
US, WASHINGTON (ORDO NEWS) — The price of Brent crude during trading fell below $ 39 per barrel for the first time since June 3. The dollar and the euro rose by about a ruble, with the European currency peaking in almost three weeks.
The cost of contracts for the supply of Brent oil with execution in August during the auction fell below $ 39 per barrel, according to the Intercontinental Exchange. By 17:00 GMT, oil at a minimum for the day was worth $ 38.64 per barrel – this is the minimum level since June 2 (then oil was at a low of $ 38.26).
The ruble against this accelerated decline. Dollar by 17:00 MSK would add about 90 cents – up to 69.4 rubles, the highest since June 4, it follows from the data of the Moscow stock exchange. The euro grew by about a ruble to 78.9 rubles – a maximum since May 20.
The Mosbirzhi index at 17:00 GMT decreased by 1.83%, the RTS index by 2.83%. In the stock market, Mosoblbank (-13.38%), Rossetti (8.55%) and Rosneft (6.84%) fall most of all. Polymetal (+ 3.08%) and Polyus (+ 2.4%) are growing.
Interfax-CEA experts explain the depreciation of the ruble , among other things, by the fact that the last auction of the week is held on Thursday, and investors are actively closing their positions before the long weekend. The negative impact is exerted by the increasing rate of decline in oil quotes, the results of the meeting of the US Federal Reserve System and the resumption of discussions on anti-Russian sanctions in the US Congress, the agency writes.
Oil has strengthened in recent weeks due to the record decline in oil production that Russia and OPEC members have gone to. On June 6, they extended the limit of 9.7 million barrels per day for July, although under the initial conditions, softening of the limits was to begin from this month. After the deal, oil rose to about $ 42 per barrel. Due to this, the cost of Russian Urals oil exceeded the budgeted one.
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