The ruble fell against the dollar and the Euro after crude oil


Moscow. June 6. INTERFAX.RU US Dollar and the Euro are rising at the opening of trading on the “Moscow stock exchange” on Tuesday; ruble falls against the currency basket followed by oil have fallen on negative territory.

The first transactions in U.S. dollar were held at the “Moscow stock exchange” in the range 56,59-56,67 RUB, at the end of the first minute of trading, the exchange rate was RUB 56,66 (+6 kopecks to the previous closing). The Euro rose to RUB 63,85 (+15.25 cents), the value of the currency basket increased by 10.16 kopecks relative to Monday’s closing level, to of 59.89 ruble.

The dollar has been 4.5 kopecks above the level of the current official exchange rate of Euro 4.2 kopecks above the official rate.

According to experts of “Interfax-CEA”, the ruble falls slightly against the dollar and the Euro at the opening of trading on the backdrop of oil prices that have fallen to negative territory. The price of “black gold” continued to decline after falling to the lowest level in three weeks on Monday in anticipation of the weekly report of the U.S. Department of energy. The cost of the August futures for Brent crude on London exchange ICE Futures at 10:00 Moscow time has fallen on 0,02% – to $49,46 per barrel. Futures price for WTI crude oil for July in electronic trading on the new York Mercantile exchange (NYMEX) decreased by this time, also by 0.02% to $47.39 per barrel.

The market reacted to the break in diplomatic relations between some Arab countries and Qatar. First, prices jumped on fears of supply disruptions, but then proceeded to decline as the experts pointed out the minor risks of such a scenario. In addition, a number of economists have pointed to the risk that due to political differences among members of the OPEC agreement to limit production may be disrupted.

Report US Department of energy will be released Wednesday at 17:30. The experts generally expect that it will indicate a decrease in oil reserves in the country by the end of the ninth week in a row, by 3.5 million barrels.

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