Russian Stock Market Ends Week in Red Amid a Record Drop in Oil Prices

The Russian stock market closed the week with a decline under the pressure of a record drop in world oil prices – by 9.3%, TASS writes.

By the end of trading on the Moscow Exchange on Friday, the MOEX index fell by 3.5% to 2,719.46 points, the RTS index by 5%, to 1,257.94 points, according to trading data.

By the end of the week, the ruble weakened against the US and European currencies. As of 7:12 pm Moscow time, the dollar exchange rate was 68.49 rubles. (+1.3%), the euro was 77.54 rubles. (+ 2.2%).

Oil price showed a significant decline. The futures on Brent crude with settlement in May 2020 on the London Stock Exchange ICE fell 9.3% to $45.3 per barrel. Last time the price was below the $46 mark in late June 2017.

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