World oil prices continue to rise amid forecasts that the September meeting representatives of the Nations of OPEC fail to agree on the limitation of oil production. On Monday during trading on the stock exchange ICE cost of a barrel of Brent for the first time in the month rose above $48.
At the peak price of a barrel of Brent reached the level of $of 48.16, by 2.53% above the closing level of the previous trading session.
Analysts attribute the rise in oil prices since forecasts about slow growth in global demand for oil, reports that OPEC may agree to freeze production and a worsening of Russian-Ukrainian relations.
“More interest is likely to cause further development of Russian-Ukrainian conflict. If the escalation of verbal aggression between the two countries after the recent incident in Crimea will lead to open conflict, it will also affect the oil market, because in Ukraine are important ways of oil transportation”, — the report says Commerzbank.
The rise in oil prices has given new impetus to the strengthening of the ruble. During currency trading on the Moscow exchange on Monday evening the dollar for the first time in three weeks fell below $ 64 RUB At a minimum price of U.S. currency dropped to 63,9575 RUB, 79,25 kopecks below the closing level of Friday’s trading.
“The important resistance level on the ruble – 63,45, as indicated by the trend line. A further increase in oil prices could push the Russian currency to this level,” Sberbank CIB analysts Tom Levinson and Iskander Lutsky.
To 18.10 GMT the price of a barrel of Brent crude on the ICE futures exchange was $48,06, the dollar on the Moscow stock exchange amounted to 64 Euro – 71,6475 RUB.