Moscow. July 7. INTERFAX.RU US Dollar and the Euro are rising at the opening of trading on the Moscow stock exchange on Friday; the ruble weakened against the currency basket in connection with a reduction of prices in the oil market.
The first transactions in US dollar were in the range of 60,36-60,48 rubles/$1, at the end of the first minute of trading, the rate was 60,47 RUB/$1 (+31,25 penny to the previous closing). Euro for the first time since November 30, overcame a 69 rubles/EUR1, having risen in the first minutes to 69.04 rubles/EUR1 (+31.5 cents), the value of the currency basket rose by 31.36 pennies compared to the closing level on Thursday, before 64,33 of the ruble.
The dollar has been on 22,99 penny above the level of the current official exchange rate of the Euro – 65,36 kopecks above the official rate.
According to experts of “Interfax-CEA”, the ruble falls against the dollar and Euro amid falling oil prices. Quotations of “black gold” are falling on Friday due to the increase in US production, which strengthened fears of investors caused by the previously released data on the growth of fuel production in OPEC member countries. Oil production in the U.S. for the week ended June 30 increased to 9,338 million barrels per day (b/d) 9,250 million b/d a week earlier, according to the Ministry of energy of the country. In annual terms, the rise amounted to 910 million b/d, or 10.8%.
The cost of the September futures for Brent crude on the London ICE Futures exchange to 10:00 Moscow time has fallen on 1,06% – to $47,6 per barrel. Futures price for WTI crude oil for August in electronic trading on the new York Mercantile exchange (NYMEX) decreased by this time by 1.19% to $44,92 per barrel.
According to the US 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.