Ruble played a significant part of losses amid rising oil


Moscow. July 6. INTERFAX.RU – the U.S. Dollar falls, Euro grows on the “Moscow stock exchange” on Thursday evening, the ruble has played a significant part of the losses, but continues to slightly decline to the basket.

The U.S. dollar amounted to 59.87 rubles/$1 at 19:00 Moscow time, 11.25 kopecks below the closing level of the previous trading session. While the Euro was worth 68,28 rubles/EUR1, up by 21.25 penny. The cost of the currency basket ($0.55 and EUR0,45) rose by only 3.6 pennies to 63,66 ruble.

According to experts of “Interfax-CEA”, the ruble has played the bulk of the losses of the first half trading thanks to a steady growth in oil prices after the publication of data on reserves from the US Department of energy, appeared substantially better than expected. According to the U.S. Department of energy, commercial oil stocks declined last week by 6.3 million barrels to 502,9 million barrels, gasoline – by 3.67 million barrels, distillates – by 1.85 million barrels. The cumulative drop of reserves (13.4 million barrels) was the highest since September. Experts on average had expected reduction of oil reserves by 2 million barrels, gasoline – by 1.8 million barrels. The cost of the September futures for Brent crude on the London ICE Futures exchange to 19:01 rose by 1.95% to $49,72 per barrel. August contract price of WTI crude oil on the new York Mercantile exchange (NYMEX) increased by that time by 2.25% to us $of 46.13 per barrel.

On Wednesday, crude oil ended the day falling by about 4% on fears of rising production in OPEC. Earlier, the American petroleum Institute (API) reported that crude inventories in the U.S. last week fell by 5.8 million barrels, petrol reserves decreased by the same amount.

There is a noticeable difference in the dynamics of the ruble in pairs with the dollar and Euro is due to the growth of the single European currency on the world currency market after the publication of the minutes of the meeting of the ECB’s monetary policy, according to which at the last meeting of the regulator also talked about rolling incentive program, which was a surprise for the market.

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