Oil jumped 4% on news of USA


The price of Brent crude oil on the stock exchange ICE rose above $39 per barrel, reaching at maximum level of $39,47 per barrel, which is of 4.22% above the closing level yesterday. The jump in prices came after the energy information Administration (EIA) U.S. Department of energy announced the reduction of crude oil reserves in the country.

During the week of March 26 to April 1, 2016 commercial stocks of crude oil in storage in the U.S. fell by 4.9 million barrels from 534,8 million to 529,9 million barrels. Earlier analysts predicted that oil reserves will not decrease, but even increase of approximately 3 million barrels.

On the eve of the American petroleum Institute (API) reported that, by estimates of experts, the reserves of oil in storehouses of the USA was reduced last week by 4.3 million barrels. This news also triggered a rise in oil prices — Brent futures trading on ICE closed yesterday at $37,87 that by 1.62% higher than the closing level of the previous auction.

A new leap in oil prices has stopped the increase in the exchange rate on the Moscow stock exchange and led to a new strengthening of the ruble. After the news from the EIA of the dollar against the ruble declined by about 50 kopeks, having fallen to the minimum 68,125 rubles, which is by 43.7 kopecks below the closing level yesterday.

Simultaneously, the Euro against the ruble fell below 78 rubles, reaching the minimum mark 77,493 rubles, which 59,7 kopecks below the closing level yesterday.

“The ruble is entirely dependent on the dynamics of oil prices that continue to fluctuate around the $40 level,” — said the Deputy chief of analytical management of Bank “Zenith” Vladimir yevstifeev.

To 18.30 Moscow time the price of a barrel of Brent oil on the ICE stock exchange was $, the dollar on the Moscow exchange reached RUB, EUR — RUB