Russian top diplomat suspects Jabhat al-Nusra could be used to topple AssadRussian Politics & Diplomacy March 29, 19:58
Lavrov reiterates there are no facts substantiating Iran’s links to terroristsRussian Politics & Diplomacy March 29, 19:40
Russia to upgrade helicopter protection system based on Syrian experienceMilitary & Defense March 29, 19:00
Lavrov says Ukrainian president wants to bury Minsk agreementsRussian Politics & Diplomacy March 29, 18:57
FIDE executive says Ilyumzhinov himself to blame over media buzz on his resignationSport March 29, 18:46
Russian top diplomat says Moscow ready to develop relations with WashingtonRussian Politics & Diplomacy March 29, 18:37
London High Court rules Ukraine must repay $3 bln to RussiaBusiness & Economy March 29, 18:12
Russian energy minister pegs oil price at $70-100 as profitable for Arctic productionBusiness & Economy March 29, 18:02
Russian opera star Hvorostovsky announces two concerts in Toronto and DublinSociety & Culture March 29, 17:44
LONDON, February 3. /TASS/. The price of Brent crude futures for March delivery rose by 3% on the Intercontinental Exchange in London to $56.4 per barrel on Tuesday, coming above the $56 level for the first time since January 5.
After a little pause, Brent oil prices are likely to move to the area of $62 per barrel, deputy general director for investment analysis at Zerich Capital Management investment company Andrei Vernikov said.
"That is why, we’ll not so far sell a contract on the RTS index futures we bought yesterday in the expectation of an oil price growth," the expert said.
The growth of oil prices, a major earner of foreign currency revenues for the Russian budget, is lending support to the ruble.
By 3:09 p.m. Moscow time (12:09 GMT), the US dollar shed 2.02 rubles to 66.40 and the euro lost 2.04 rubles to 75.42.
Head of Russian Stock Market Operations at Freedom Finance Investment Company Georgy Vashchenko said the oil price would stabilize at a new level of above $50 per barrel this year.
"The [government’s] anti-crisis measures will yield their effect. Therefore, the Central Bank will not be required to hold large-scale interventions with its international reserves to support the ruble. As a result, the market will find a balance at a new level," the expert said.