From Bloomberg:
Russia’s ruble and stocks advanced the most in emerging markets as oil’s jump after a decline in U.S. crude stockpiles renewed investor appetite for the assets of the world’s biggest energy exporter.
The ruble surged 1.7 percent to 65.209 against the dollar by 6:14 p.m. in Moscow, while the dollar-denominated RTS Index climbed 3 percent. Brent crude jumped 3.2 percent to $47 a barrel after a government report showed that U.S. crude inventories unexpectedly declined.
“The ruble will continue rising on higher oil prices, the Russian currency is strong,” Vladimir Bragin, head of research at Alfa Capital in Moscow, said by phone. Bragin sees the ruble rising to 60 against the dollar if oil continues to gain.
