The price of Brent crude exceeded $50 for the first time in a month and a half

The price of oil Brent for the first time in a month and a half have risen above $50 per barrel. In the course of trading on the ICE exchange on Thursday, the price of a barrel of Brent reached $50,05, which is 0.4% above the closing level of the previous trading session. More than $50 a barrel of Brent should not have on ICE from July 5, 2016.

The rising oil prices associated with the publication about reduction of oil reserves in the United States. According to published data the U.S. Department of energy, for the previous week, they decreased by 2.5 million barrels.

Commerzbank analysts noted that the yield of oil prices for the psychologically important level of $50 per barrel, most likely, will return to the market short-term investors. “In the latest week has already been a marked increase in net long speculative positioning in Brent (+33.5 thousand contracts), and two-thirds of this increase was achieved due to the covering of short positions”, – the report says Commerzbank.

The increase in world oil prices has become a new impetus for the strengthening of the ruble. In early trading on the Moscow exchange, the dollar fell 63.38 rubles, which is by 44.5 kopecks below the closing level on August 17. Simultaneously, the Euro fell by 27.5 kopecks to RUB 71,78

By 10:30 MSK cost of a barrel of Brent crude on the ICE futures exchange was $49,92, the dollar on the Moscow stock exchange has reached 63, and 52 Euro – 71,9 RUB.