Russian stocks may decline at opening on mixed oil market

MOSCOW, Dec 14 (PRIME) -- The Russian stock market is likely to open with a decrease on Thursday as oil markets stay under pressure, analysts said.

“Support at 3,020 held out. The market took a pause after 14 days of 6.6% fall. The rebound was weak on the back of higher oil prices, so there are still risks of going below 3,000. If the index closes the day above 3,070, we will have to give up the idea of breaking through 3,020 for a while,” financial marketplace Banki.ru’s senior analyst Bogdan Zvarich said.

On Wednesday, oil prices rose amid a decline in U.S. inventories according to a report from the country’s Department of Energy, but oil prices are still under pressure on fears of a slowdown in the global economy, despite the fact that OPEC retained its demand forecast, the analyst said.

According to senior trader at managing company Alfa-Capital Vladislav Silayev, the conditions by today has formed predominantly positive. The oil market looks mixed, a barrel of Brent decreased in price to U.S. $74.47, he said.

Promsvyazbank analyst Yevgeny Loktyukhov said that the dollar will stay under 90 rubles on the improvement of the external background.

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