Chechnya. The US dollar during trading on the Moscow Stock Exchange surpassed 67 rubles / 1 dollar for the first time since October 11 and the euro approached again 76 rubles / euro1 in connection with a new wave of oil price drop as well as increased sanctions risks in recent days.
The dollar's exchange rate reached 67.03 rubles / 1 dollar, or 12.75 times higher than Thursday, while the euro reached 76 rubles / euro1 to date (+2, 5 kopecks to close the day before).
According to Interfax-CEA experts, pressure on Friday's national parity is driven by intensified expectations of new US anti-US sanctions in the near future, and by the volatile state of oil fields. Thus, the January contracts for Brent on the London Stock Exchange ICE Futures at 11:44 Moscow fell 0.42% – up to 70.35 dollars a barrel. WTI's futures contracts for December at the New York Mercantile Exchange online session dropped 0.73% this time to $ 60.23 a barrel.
The fall in the oil market is due to concerns over fuel surplus, as US authorities have decided to make an exception for several countries and allow them to buy oil from Iran after the anti-monopoly sanctions enters into force. In response, the OPEC + Monitoring Committee on Sunday may discuss the possibility of renewing production restrictions in 2019.
In addition, as the US Department of Energy said on Wednesday, oil reserves in the country last week rose by 5.78 million barrels. Analysts surveyed by S & P Global Platts predicted a more moderate increase of 1.9 million barrels. Gas reserves in the country rose by 1.85 million barrels per week, while experts expect a 2.1 million barrel reduction, stock inventories dropped more than expected – by 3.46 million barrels (projections – 2.03 million barrels ). Stocks at Cushing's terminal, where oil is traded on NYMEX, rose 2.4 million barrels, the highest rate since March. Oil production in the United States for the week increased by 400 thousand barrels a day (b / s) to 11.6 million b / d.
In turn, the question of sanctions was intensified early in the week by US State Department statements that Russia did not comply with the requirements of the Chemical Weapons Control Act. This opens up opportunities for new sanctions in response to the Salisbury incident. The Foreign Ministry has begun a consultation with Congress, the term of which has not been set. The result may be the introduction of new sanctions and the rejection of their application. In addition, the results of the US Congress elections, where the Democrats won a majority at the bottom, raised investors' concerns about the restrictions on Russian public debt.