16.09.2019, 10:54
Ruble and Oil Rise in Price after Drone Attack on Saudi Aramco
Source: OREANDA-NEWS
OREANDA-NEWS. The ruble went up against the dollar and the euro on the Moscow Exchange, it follows from the trading data. Immediately after the opening of trading on Monday, for the first time in a month and a half, the dollar fell below 64 rubles. The previous time the dollar fell below this mark on August 1.
In the first few minutes of trading, the dollar on the Moscow Exchange fell to 63.66 rubles, which is 67.67 below the closing level of previous trading. At the same time, the euro fell by more than 81 kopecks - at a minimum, he reached the level of 70.4709 rubles. On the night of September 14, a fire broke out at the Saudi Aramco facilities in Abkaik and Hurais. Hussite Yemeni rebels from the Shiite movement Ansar Allah announced that they had attacked Saudi refineries with ten drones. After the attacks, Saudi Aramco reduced production.
After the opening of trading on the London ICE on Monday, September 16, oil prices showed a sharp increase. Thus, Brent futures rose by almost 19% - to $ 71.62 per barrel, and WTI futures - by 15.8%, to $ 63.47. Then the prices corrected, but compared with the close of Friday trading, the increase is about 7-10%. Analysts and traders surveyed by the American media suggested that on Monday oil prices would rise by $ 5-10 per barrel, and in the long term could reach $ 100 if Saudi Arabia couldn't quickly resume supplies.
US President Donald Trump has allowed the use of strategic oil reserves to stabilize the market, if the need arises. He didn't specify how much was planned to be allocated, promising that its level would be enough for the normal supply of markets. US Secretary of State Mike Pompeo accused Iran of attacking Saudi Aramco facilities, saying that "there is no evidence" that the attack was from Yemen. Washington will take measures to supply the world oil market, said the head of the State Department.
In the first few minutes of trading, the dollar on the Moscow Exchange fell to 63.66 rubles, which is 67.67 below the closing level of previous trading. At the same time, the euro fell by more than 81 kopecks - at a minimum, he reached the level of 70.4709 rubles. On the night of September 14, a fire broke out at the Saudi Aramco facilities in Abkaik and Hurais. Hussite Yemeni rebels from the Shiite movement Ansar Allah announced that they had attacked Saudi refineries with ten drones. After the attacks, Saudi Aramco reduced production.
After the opening of trading on the London ICE on Monday, September 16, oil prices showed a sharp increase. Thus, Brent futures rose by almost 19% - to $ 71.62 per barrel, and WTI futures - by 15.8%, to $ 63.47. Then the prices corrected, but compared with the close of Friday trading, the increase is about 7-10%. Analysts and traders surveyed by the American media suggested that on Monday oil prices would rise by $ 5-10 per barrel, and in the long term could reach $ 100 if Saudi Arabia couldn't quickly resume supplies.
US President Donald Trump has allowed the use of strategic oil reserves to stabilize the market, if the need arises. He didn't specify how much was planned to be allocated, promising that its level would be enough for the normal supply of markets. US Secretary of State Mike Pompeo accused Iran of attacking Saudi Aramco facilities, saying that "there is no evidence" that the attack was from Yemen. Washington will take measures to supply the world oil market, said the head of the State Department.
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