Oil quotes may rise to $102-103 per barrel of Brent on Friday, Sber CIB analysts say.

“The price of Brent on Friday morning is quoted at about $100/bbl. The shortage of oil supply persists, there has been a decrease in the incidence of COVID-19 in Shanghai, and global markets, which had expected a sharper rise in interest rates by the Fed in July and September, have calmed down a bit. Probably, Brent quotes will start to grow again and may reach $102-103/bbl,” the investment bank’s analysts write.

The ruble began to strengthen on Thursday afternoon, but after reports that the Ministry of Finance offered the government new parameters for the budget rule, it returned to above 58 rubles/$1. According to Sberbank experts, on Friday the ruble will remain at about 58 rubles/$1. The focus of investors will be an unscheduled meeting of the State Duma.

„OFZ yields on Thursday fell by 1-4 bp along the entire length of the curve. This was facilitated by data on weekly deflation in Russia published the day before. On Friday, OFZ yields may again moderately decrease – by 1-3 bp,” experts predict.