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News of the day: Topic of the day: oil company shares are trending due to politics – Expert.RU

Traders drew attention to the papers of Russian oil companies against the backdrop of rising prices for “black gold”, as well as the increasingly complicated geopolitical situation. According to the results of the session on the Moscow Exchange on Monday, May 16, the shares of Bashneft (+8.29% to 699 rubles per share), Surgutneftegaz (ordinary) +1.67% to 22.5 rubles per share, “+5.68% to 32 rubles per share), “Lukoil” (+3.28% to 4523.5 rubles per share), “Rosneft” (+1.03% to 378.8 rubles per share), ” Gazprom Neft (+3.88% to 394.75 rubles apiece).

A number of countries refuse Russian oil because of the situation in Ukraine. However, fuel prices from alternative suppliers do not suit everyone. Thus, Hungary asked the European Union for an investment plan, since the rejection of Russian oil would cause a serious blow to the country’s economy. Some EU member states believe that Hungary is sabotaging the embargo in this way.

The Russian Federation, despite the difficult situation with supplies in Europe, does not despair and redirects fuel flows to Asia. Discounted “black gold” supplies Russia to the East, which has ensured a significant increase in exports since February, which has now reached 1.5 million barrels per day. In addition, from June 1, Russia will reduce the export duty on Urals oil by $4.8 to $44.8 per ton, which will make it even more attractive to buy.

The Moscow Exchange Index by the end of trading rose by 2.48% to 2364.6 points. The RTS index rose by +3.69% to 1174.06 points. As of 20:16 Moscow time, Brent crude stood at $113.59 per barrel (+1.83%). The Russian currency strengthened – 63.4 rubles per dollar.

The Russian stock market was under pressure from the geopolitical situation and Western sanctions that were introduced after the Russian Federation launched a military special operation on the territory of the republics of Donbass and Ukraine. After that, the market returned to multi-year lows and experienced a record drop. Trading on the Moscow Exchange was not held for a month. Then they were launched in a limited mode, now all shares are admitted to trading.

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