The price of Brent crude oil fell below $ 47 per barrel for the first time from 28 September 2016. This is evidenced by trading Intercontinental exchange ICE.
Oil has accelerated the decline against the background of data about fuel stocks in the United States, which increased during the week from 21 to 28 October by 14.44 million barrels per day, up to 482,6 million barrels, reports TASS.
Against this reduced exchange rate. In the course of trading on the Moscow stock exchange to 18:30 GMT, the dollar rose to 63.68 ruble (plus 36 cents by the close of the previous session), Euro to ruble 70,78 (plus 79 cents). Quotes Brent fell to of 46.73 per barrel (down 2.93 percent).
The official Euro exchange rate set by the Central Bank on November 3, is 70,23 rubles (87 cents higher than November 1), the dollar — ruble 63,42 (plus 21 kopecks).
Earlier, on 2 November Sberbank CIB analysts noted the high demand among Russians for hard currency due to expectations of devaluation of the ruble.
On the same day, Bloomberg reported that Libya and Nigeria are members of OPEC, and in October increased its production by 800 thousand barrels per day. “The cartel has just said about cutting back production, but until we see growth,” stated UBS analyst Taunovo Giovanni (Giovanni Staunovo).
26 Oct experts interviewed by “Tape.ru”, predicted that by the end of the year the ruble will face weakening against the dollar. The U.S. currency may rise to 65-69 rubles.