The Russian ruble is rallying as oil prices climb ahead of OPEC’s meeting in Vienna later this week.
The petrocurrency was up by 0.4% at 56.6961 per dollar as of 7:55 a.m. ET.
Brent crude oil, the international benchmark, was higher by 0.9% at $US54.09 per barrel, while WTI crude oil, the US benchmark, was up by 1.0% at $US51.16 per barrel.
OPEC officials are meeting Thursday, and will be discussing whether to extend production cuts.
As for the rest of the world, here’s the scoreboard as of 8:04 a.m. ET:
- The US dollar index is down by 0.2% at 96.98 ahead of a busy day for Fed speak. Patrick Harker, Neel Kashkari, Lael Brainard, and Charles Evans will all be taking the mic Monday.
- The Japanese yen is little changed at 111.34 per dollar after data showed Japan’s trade surplus narrowed to 481.7 billion yen in April as exports to China rose by 14.8% versus a year ago.
- The euro is up by 0.3% at 1.1242 against the dollar and trading at its best level since November 9, the day following Trump’s election win.
- The British pound is little changed at 1.3020 against the dollar.
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Get the latest Oil WTI price here.
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