The price of futures contract for Brent crude oil with July delivery on London’s ICE rose by 4.9% and reached $34.09 per barrel.
The last time the price of oil of this grade was above $34 per barrel on April 9, 2020, TASS reports.
As of 12:55 Moscow time, Brent oil continued to grow and was trading at $34.35 per barrel (+5.7%). In turn, the price of WTI oil rises to $31.57 per barrel (+6.9%).
The Russian stock market is supported by rising oil prices. Thus, for the first time since April 30, the RTS index exceeded 1,150 points and reached 1,151.32 (+4%) points during the trading session of the Moscow Exchange. The MOEX index rose to 2,664.09 points (+2.7%).
The Russian ruble is also strengthening against the dollar and the euro on the Moscow Exchange. Thus, the dollar fell to 72.87 rubles. (-1%), and the euro - to 78.75 rubles. (-1.1%).