The exchange rate of the US dollar at the beginning of the trading session on the Moscow Exchange on July 31, 2020 increased to 73.43 rubles (+ 0.35%), the euro - to 87.35 rubles (+ 0.8%), breaking the mark of 87 rubles for the first time since April 1, 2020 as of 10:00 Moscow time. By 10:05 Moscow time, the dollar rose to 73.53 rubles. (+ 0.5%), euros - up to 87.48 rubles. (+ 1%).
The cost of the October Brent oil futures contract on the London ICE stock exchange fell to $ 41.72 per barrel. This is 5.38% below the closing level of the previous session. At the same time, the price of WTI crude oil for delivery in September fell by 4.7% - to $ 39.33 per barrel. The loss in price amounted to almost 2% to the level of previous trades.
Global oil prices have been impacted by new outbreaks of the coronavirus. Another factor could be the prospect of easing restrictions on production by the largest oil producers.
NEWS.ru previously reported that oil demand, which suddenly fell amid the coronavirus pandemic, may never recover. The crisis in the industry, it is possible, will lead to the end of the oil era. Experts make long-term forecasts for demand downward. So, in 2020, real oil consumption turned out to be 10 million barrels lower than projected.