Predicted the ruble weakening due to the fall in oil prices

predicted the Ruble weakening due to the fall in oil prices. This opinion was expressed to RIA Novosti chief analyst “BCS Premier” Anton Pokatovich.

“If this emotional reaction of the oil market tomorrow will be observed, there will decline and futures contracts for WTI and Urаls, and Brent, then we can see the increasing pressure on the ruble. For example, when leaving Brent to $ 20 per barrel, the ruble may weaken to 76-77 rubles per dollar”, — said Pokatovich.

He added that all movements happen in the near may future. According to him, the contract for the market and oil producers in the real market is not the main one. “All deliveries are at the prices of the June contract. Thus, for ruble dynamics the may futures of WTI is not the most important factor in fundamental factors. The fundamental influence is not to look”, — the expert explained.

He called the drop in the price of WTI historical moment and added that the consequences for the market can be seen tomorrow. “And when the historical moment is complete, then perhaps we won’t see a noticeable effect on the ruble from oil prices”, — he concluded.

Earlier it was reported that us crude set a record negative value. According to trading on 20 APR 21:32 Moscow time, the price of WTI fell to near minus 40 dollars per barrel.

a Decline in prices due to concerns about the overflow of American tanks. It was noted that the value of may contracts for delivery of WTI dropped to the lowest level since the end of last century. Private Texas company started to sell raw materials at two dollars. Experts do not exclude that the situation will worsen, and producers begin to pay customers to take the oil.