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The agreement with India on the supply of coking coal will provide Russia with up to $7 billion in annual export revenue
The Ministry of Energy of Russia and the Ministry of Steel Industry of India signed a memorandum on increasing the supply of coking coal to 40 million tons per year.
Oil does not get tired of conquering new peaks
Oil strengthened to the $84.50 per barrel zone on Thursday, partially retreating to the close of trading. Having managed to stay above the $84 level, the quotes continue to climb during today's trading, moving three-year highs to $84.90. Thus, prices are now a step away from the $85 level.
The transition of Russian Railways to new tariffs may further increase inflation
In mid-September, the management of Russian Railways again raised the topic of revising the principles of indexing the infrastructure and locomotive component of the cost of rail transportation (the Russian Railways tariff).
Oil rally is stalling
On Tuesday, oil traded steadily, seeding slightly below the three-year highs reached around $84.60 per barrel. At the end of the day, Brent fell slightly, but remained above the $83 level.
The ruble continues to benefit from rising oil prices
The ruble remains the strongest currency in the Emerging Markets segment. The potential for strengthening the ruble significantly reduces the budget rule.
Demand for risk has recovered in global markets
On world markets, demand for risk has recovered, investors prefer to buy drawdowns in the US stock market in the conditions of ultra-soft Federal Reserve PREP
The fragile balance of the oil market at elevated prices
The decision of the OPEC+ ministerial committee on October 4 not to increase oil production in October-November beyond the previously planned increase led the price of Brent crude oil to the zone of $81-$83 per barrel, as expected in this scenario.
