The price of oil Brent for the first time in eight months rose above $52


The price of Brent oil on the ICE exchange for the first time since 12 October 2015 climbed above $52 per barrel, according to the auction. At the peak of the price of a barrel of Brent reached $of 52.21, which is 1.5% above the closing level of the previous trading session.

Analysts attribute the rising oil prices with the weakening of the dollar against other world currencies and the publication of the data of the American petroleum Institute on the reduction of commercial oil reserves in the United States by 3.5 million barrels. Later on Wednesday about the change in the volume of oil reserves must report to the U.S. Department of energy. A new set of statistics, according to experts, can give new impetus to price growth.

“Oil is trading around seven-month highs. The General optimism and the weakening of the U.S. dollar continue to bolster interest in the purchase of the commodity and risky assets. It is not excluded that the speculative Brent might try to reach $52,5–53 per barrel in the coming sessions, but this should not disappoint the reserves data and future statistics of China (CPI)”, — the analyst Nordea Bank Denys Davydov.

Rising oil prices and pulled up the ruble. In the course of trading on the Moscow exchange on Wednesday, the dollar fell to 64.08 Euro — up to 72,88 RUB.

“The ruble remain all the chances this week to update the next annual maximums, reference points can be markers of 62.5–63 rubles per dollar,” — says Denis Davydov.