The price of the European grades of oil on the spot market returned to the level from four months ago. The price of Russian Urals oil rose above $46 per barrel, the price of North sea Brent crude oil rose above $45 per barrel. The bull on the oil market resumed amid reports about the emergence of vaccines against coronavirus, and new monetary stimulus in Europe and the US, which strengthened hopes for a more rapid recovery of the world economy.After a four-month break, the quotations of Russian Urals oil was fixed above $46 per barrel. According to Reuters, on Tuesday, April 21, its cost rose to $46,49 per barrel, approaching the maximum values from 6 of March. For months, max has updated the price of North sea Brent, which on the spot market reached a level of $to 45.44 per barrel. One day the price of the European grades of oil rose by 3.7% to 3.8% and was able to get out of the narrow price range where they were a month and a half ($40-45 per barrel).According to the British journal The Lancet, vaccination has led to the development of the subjects of the antibodies to COVID-19. “Over the last two days received the same message about the three vaccines, but the results of the above study published the most detailed data, moreover, it was conducted on the largest sample, more than 1 thousand people”,— said the strategist of Sberbank’s operations in the commodity markets Michael Sheibe. In such circumstances, market participants begin with a little caution to look at the accelerated rate of spread of the coronavirus in the world, which in recent weeks had a significant pressure on the oil quotes.The effect was strengthened by the extension of anti-crisis measures in the EU and the USA. On Monday, the EU leaders endorsed the stimulus plan in the amount of €750 billion Earlier in the United States announced the introduction of a new package of $1 trillion.”For the oil market, the world economy is extremely important, because investors clearly expect increased demand in response to the easing of OPEC+,”— said the head of analytical Department of Bank “Zenith” Vladimir Evstifeev.In such conditions, analysts do not exclude further growth of oil prices. “The fundamental factors of the oil market remain weak — canopy supply, slack demand, large stocks, but the market sentiment is strong and will continue to provide oil support in the next week at least,”— said the chief analyst of PSB Ekaterina Krylova. According to the analyst of management of trading operations on the Russian stock market “freedom Finance” Alexander Osin, in the next two quarters the impact on the market will have production cuts by OPEC and monetary stimulus in the United States, Japan, and China an estimated 8% of world GDP. In the context of a weakening of quarantine measures, he looked forward to reaching the level of $55 per barrel on Brent crude.In��Stanovlenie in oil prices has already had a positive impact on the Russian currency market. “The increase in production from August to 400 thousand barrels per day with a price increase form a fundamental basis for the strengthening of the ruble,”— said Mr. Evstifeev. In addition, support to the national currency it is the growing demand for ruble liquidity on the part of exporters ahead of the peak of tax payments, which falls on July 27. “In the circumstances, in the next session increased the chances of testing the dollar level 70 RUB/$, which is the immediate support for the American currency”,— said Ekaterina Krylova.Vitaly Hideitem Russia went to the largest ever production cuts to netikette next
