The ruble partially won back losses of first half of the day because of oil

Moscow. July 24. INTERFAX.RU US Dollar and the Euro rising on the Moscow stock exchange on Monday; by evening, the ruble pared some losses against the currency basket due to rising oil prices.

The U.S. dollar amounted to RUB 59,98/$1 at 19:00 GMT that 62,25 kopecks above the closing level of the previous trading session. While the Euro was worth 69,84 rubles/EUR1, up 61.5 penny. Earlier in the course of trading the Euro rose to 70.1 rubles/EUR1 for the first time since November 16, 2016. The cost of the currency basket ($0.55 and EUR0,45) rose by 61,91 pennies to 64,42 of the ruble.

According to experts of “Interfax-CEA”, despite strong growth in oil prices, the ruble declines against the dollar and Euro in evening deals on Monday on expectations of tightening sanctions on Russia from the United States, the vote by which the us Congress will be held on Tuesday, July 25. Investors concerned about the progress of the investigation of the facts of Russian intervention in the American elections in 2016 and the upcoming hearings in the Senate, where testimony about his meeting with a Russian lawyer Natalia Veselnitskaya have to give the eldest son of U.S. President Donald trump, Jr. and former head of the election headquarters of the President by Paul Manafort.

Oil prices reference marks continue to rise during trading on Monday after Saudi Arabia promised to significantly reduce the export of oil in August. Quotations of September futures for Brent crude on London’s ICE Futures exchange to 19:00 Moscow time has grown on 0,96% – to $48.52 per barrel. The price of futures contracts for WTI crude oil for September on the new York Mercantile exchange (NYMEX) by this time, increased by 1.07% to $46.26 a barrel.

After a meeting of the Ministerial Committee on the implementation of agreements on OPEC+ Minister of energy of Saudi Arabia Khalid al-falih said that from August 1, the country will limit the export of oil with a volume of 6.6 million barrels to 1 million barrels lower than a year earlier. In addition, positive for the market was the news that the monitoring Committee will include the Protocol requirement to 100% the implementation of quotas for the reduction of oil production by OPEC countries+.