Market update: Feels like on on the crest of a wave?


RTS : 765 | Brent spot: 36.75 | RUB/USD : 73.80

Since early February Russian market has shown outstanding performance — RTS added about 20% compared with zero by MSCI ACWI and MSCI EM due to higher oil prices which increased due to speculations regarding the arrangements of OPEC& non-OPEC countries to freeze output levels.

I believe that oil prices after falling to a level $25 per bbl in mid-January went to the upper boundary of a wide corridor at the level of $35-40 per barrel, and for further growth need more weighty reasons.
In this regard, I believe that the correction in oil prices and Russian stocks from current levels in the next few days is highly likely.


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