Posts Tagged ‘USD/RUB’

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Hurricane in Gulf of Mexico Boosts Demand for Oil

Oil buyers returned to the market, so the commodity prices skyrocketed to highs. Today, the Brent Crude Benchmark hit the 3.5-week high, trading slightly below the level of $80 per barrel. Anti-Iranian sanctions will provide support to the commodity. Furthermore, Tropical storm Gordon is expected to hit the coast of Mexico, which also boosts a rise in oil prices. Two drilling platforms have already been evacuated. Amid that, WTI quotes […]

Investors Wait for Turmoil in Developing Countries to Calm Down

Today, oil prices are consolidating near highs despite the escalation of tension in the relations between the United States and China. Experts think that if a full-scale trade war between these two superpowers breaks out, it will dent the global economic growth. Consequently, the demand for Crude Oil will decrease. As for now, the demand for oil is supported by sanctions imposed by the United States. The sanctions already influenced supplies of Crude Oil […]

Oil Rebounds After Brief Drop

Today, oil prices are gaining ground after a brief drop yesterday, triggered by a report from the American Petroleum Institute. On Tuesday, a weekly update showed a surprise increase in the US oil inventories after a massive drawdown in the previous week. The official data on US inventory levels is due for release by the Energy Information Administration later today. Market participants expect to find out a different reading. Nevertheless, West Texas Intermediate slipped […]

RUB Slipping Despite Contraction in US Oil Production

Crude Oil hit a 2-week high today. Oil prices surged in response to a report from the American Petroleum Institute. According to the flash estimates, crude stocks in the US dropped by 5.170 million barrels last week. Market participants await a weekly update from the US Energy Information Administration. Investors are certain that the government data which is due later today will prop up oil prices. Yesterday, West […]

Oil and RUB Showing Resilience

Crude Oil is trading slightly higher today. Weakness of the US dollar is mirrored in the oil market. Market participants are braced for the consequences of the US sanctions against Iran in the short-term. Investors expect lower oil supplies in November as the US sanctions against Iran are coming into force in that month. France's energy giant Total, which is also the largest buyer of the Iranian oil, in Europe, announced its decision […]

Oil Recoups Losses While Ruble Fends Off Dollar’s Attacks

The upcoming meeting between the United States and China, where the countries may resolve their trading disputes, had a negative impact on the oil market. However, today, Crude Oil is making attempts to recover losses. The Brent Crude Benchmark is trading slightly above the level of $72 per barrel. The commodity managed to add over 50 points from the moment when it started to fall. Market participants doubt that talks […]

Oil Tries to Recoup Losses

Today, traders are bullish on Crude Oil, but the commodity is set to end this trading week in the negative zone. The Brent Futures are approaching the level of $72 per barrel. Analysts say that a rise was triggered by the news about a possibility of negotiations between China and the United States aimed at settling trade disputes. The Light Sweet Crude Oil is also gaining ground, approaching the level of $66 per barrel. […]

Oil Prices Trading Under Pressure While Ruble Tries to Reverse Bearish Trend

The sentiment of oil traders deteriorated after the report of the Energy Information Administration had been published. The EIA data showed that the stockpiles of Crude Oil in the United States increased by 6 million 805 thousand barrels in a week while experts predicted a decline. This factor contributed to a fall in oil prices. At first, let us pay attention to the dynamics of the shale oil price. WTI futures were trading near the level of $65 per […]

Oil and Ruble Trading with Same Bias

By the end of the trading day on Monday, oil prices surged amid the news about a decline in the oil output in Saudi Arabia. Yesterday, the monthly OPEC report showed that the oil cartel revised downwards, its outlook for the demand. It triggered a massive selloff in oil futures. However, the subsequent news about a decrease in production in Saudi Arabia of 200,000 barrels per day offset the negative impact of the previous news. The Brent Crude Benchmark rose […]

Oil Prices Trading Near Friday’s Levels

Tension in relations between the United States and Turkey has come under the spotlight today. Thus, another country has got into trouble with protectionist Donald Trump. Remarkably, this factor had a positive effect on the oil market. The Brent Crude Benchmark retreated from the low at $71.50 per barrel and added over 1%. Today, Brent is trading slightly below the level of $73 per barrel. Experts say that […]

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