The ruble grew against the dollar and the Euro due to the recovery in oil prices


Moscow. June 8. INTERFAX.RU US Dollar and Euro decline at the opening of trading on the Moscow stock exchange on Thursday; the weak ruble is growing against the currency basket due to the partial recovery of oil prices after a collapse the day before.

The first transactions in US dollar were held in a range at 56.99-57,09 rubles/$1, at the end of the first minute of trading, the rate was 57,08 RUB/$1 (-0.8 penny to the previous closing). The Euro dropped to 64.2 rubles/EUR1 (-13,75 pennies), the value of the currency basket fell by 6.6 kopecks relative to Wednesday’s closing level, before 60,28 of the ruble.

The dollar has been 48.72 penny above the level of the current official exchange rate of the Euro – 48,46 kopecks above the official rate.

According to experts of “Interfax-CEA”, the ruble rises slightly against the dollar and Euro in early trade due to moderate growth in oil prices after a sharp fall on Wednesday to lows since early may on the news about unexpected growth of stocks of fuel of all types in the United States. The cost of the August futures for Brent crude on London’s ICE Futures exchange at 10:01 Moscow time has raised on 0,89% – to $48,49 per barrel. Futures price for WTI crude oil for July in electronic trading on the new York Mercantile exchange (NYMEX) has increased by this time on 0,77% – to $46,07 dollars per barrel. On Wednesday the price of Brent crude collapsed to USD 2.06 (4,11%) to $48,06 per barrel, WTI – at $2,47 (5,13%) to $45.72 per barrel.

As said before, the U.S. Department of energy, commercial oil reserves in the country last week, jumped by 3.3 million barrels. Growth was recorded for the first time in 9 weeks, experts had expected a decline of 3.5 million barrels. Inventories of gasoline in the country increased by 3.32 million barrels, distillates – by 4.35 million barrels.

Workload refineries in the country fell by 0.9 percentage points instead of the expected decline of 0.2%, and oil production in the United States decreased by 24 thousand barrels per day.

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