The Russian ruble is increasing its fall against major foreign currencies, it follows from the data of the Moscow Exchange. So, the value of the euro increased on July 31, 2020 to 88 rubles per unit, breaking through the mark of 88 rubles for the first time since March 2020. The US dollar has risen in price to 74.5 rubles. On the same day, the euro rose to 87 rubles, which has not been the case since April 2020.
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.
Oil demand, which has suddenly dropped 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.
Earlier NEWS.ru reported that in Russia the pensions of over 11 million working elderly citizens will increase from August 1 due to recalculation. The procedure for insurance benefits for employees of "elegant age" is carried out annually on this day. It concerns recipients of old age and disability who received premiums last year.