Oil Prices Could Reach $110 Per Barrel

Oil prices could reach $ 110 a barrel by July, according to a well-known analyst of the oil market Stephen Schork. 

"There is a high probability that the price will reach 95 dollars per barrel. After the end of June barrel can cost more than 110 dollars", - agency Bloomberg quotes Schork . "However, if prices reach $ 110 a barrel, demand starts to decline", - he said. 

May futures of North Sea petroleum mix of mark Brent Crude Oil at London exchange ICE (InterContinental Exchange Futures) following trades rose by 1.31 dollars - up to 84.01 dollars per barrel. On the New York Stock Exchange NYMEH (New York Merchantile Exchange) cost of the May futures for U.S. light crude oil Light Sweet Crude Oil rose by 1.11 dollars - up to 84.87 dollars per barrel.

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Bloomberg Called Russian Stock Market Europe's Best

According to Bloomberg Russian stock market was Europe's best last month as the rouble rose and reserves stabilized.

The Micex equity index climbed 6.6 percent in February as the world’s second-biggest oil producer stopped speculators from driving down the ruble and depleting its $382 billion of foreign exchange reserves.

While Russia’s government said the economy will contract for the first time in a decade and currency reserves are down 36 percent from August, the nation’s relative strength is raising Prime Minister Vladimir Putin's influence over former Soviet states.

Russia is “still better off than others, mostly because of the reserves,” said Beat Siegenthaler, chief emerging-markets strategist in London for TD Securities Ltd.


It’s the perfect time for Russia to flex its muscles.






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