COVID-19: Brent crude oil price up 6% to $34.83 per barrel on London's ICE

The price of futures contracts of Brent crude oil for June 2020 delivery extended gains to 6.06% on London's ICE on Thursday to $34.83 per barrel, according to the trading data as of 2:10 pm Moscow time (12:10 Thursday, WAT).

The Russian currency is strengthening against the dollar and the euro amid the oil price increase as the dollar exchange rate dropped by 1.35% on Moscow Exchange to 73.96 rubles, while the euro exchange rate lost 1.17% to 80.36 rubles.

Oil futures are rising at the prospect of the OPEC+ ministers’ talks to be held later in the day as a webinar.

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