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NatGas & Brent Turn Up The Heat On The Ruble

RUSSIA
  • Local & USD yields mixed across the curves as last week's choppy price action moves through into this week.
  • USD/RUB opens firmly lower on upbeat commodities.
  • Natgas leading the move (+5.35%), with Brent breaking the $45 handle (+1.47%) on continued hopes for 3-6 month OPEC+ supply curbs and tensions in the Middle-East.
  • Spot now trades below the 76.00 level, but will need to close below to cement the move lower towards 75.30-75.00 in line with the lower bound of the bear channel and rising 100dma.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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