Dec 17 2014 - 21:26
The cost of February futures for Brent oil increased by 3.95% to $62.48 per barrel at 8.09pm. January futures for WTI oil gained 3.57% and reached $58 per barrel, RIA Novosti reports. The U.S. Energy Department declared a reduction of commercial oil reserves on the week ending December 12 of 0.8 million barrels (0.2%) to 379.9 million barrels. Analysts predicted a reduction of over 2.36 million barrels.
Dec 17 2014 - 20:05
Azerbaijani President Ilham Aliyev has met with BP Executive Director Robert Dudley today. They discussed cooperation between Azerbaijan and BP, realization of the Azeri-Chirag-Guneshli project, progress on the Shah Deniz Field, the Southern Gas Corridor. Aliyev and Dudley expressed hope for further cooperation between the State Oil Company of the Azerbaijan Republic (SOCAR) and BP, Trend reports.
Dec 17 2014 - 19:23
Speaker of the Federation Council of Russia Valentina Matviyenko believes that members of the Eurasian Economic Union should use national currencies for trade more often, RIA Novosti reports. In her words, a common currency should only be adopted when the economies of the four countries need it. The lawmaker reminded that the EU took a lot of time to adopt the euro.
Dec 17 2014 - 16:53
British Prime Minister David Cameron told the UK parliament that Russia could not be a member of the world financial system. In his words, the weakening of the Russian ruble was a result of falling oil prices and foreign sanctions. Cameron assured that he will insist on further pressure on Russia, Gazeta.ru reports. The British PM had earlier said that Russia's isolation over its policy in Ukraine had weakened the economy and made it more vulnerable to world economic downturns.
Dec 17 2014 - 16:44
The price for February futures for Brent oil dropped by 2.1% to $58.77 per barrel at ICE (London) at 3.50pm. The morning price dropped by $1.20 to $59.86 per barrel, Gazeta.ru reports.
Dec 16 2014 - 16:02
The dollar cost reached 80.10 rubles at the Moscow Exchange at 3.16pm, the euro 100.74 rubles. Just this morning, the dollar and euro prices had made a slight fall to 58.15 rubles and 72.45 rubles respectively in the light of the Central Bank’s raising the key rate from 10.5% to 17%.
Dec 16 2014 - 15:16
The dollar price exceeded 70 rubles and hit 74 rubles as of 2.31pm on the Moscow Exchange. The euro price reached 91 rubles.The dollar and euro prices at the opening of trade this morning were 58.15 and 72.45 rubles respectively, making a slight fall since the previous day due to the Central Bank’s raising of the key rate from 10.5% to 17%.The dollar gained 10 rubles in price from November 28 to December 15. It has gained the same value in less than a day this time.
Dec 16 2014 - 14:12
Russian Energy Minister Alexander Novak said today that the times when countries could affect the oil market together were gone, and no one player could keep oil prices under control. He emphasized that oil prices stabilized themselves according to market laws.