Russian stocks may fall at opening on declining oil price

MOSCOW, Jun 13 (PRIME) -- The Russian stock market is likely to fall at opening on Tuesday on declining oil price, analysts said.

“Oil stocks could be the dominant performer today from the open due to a drop in oil prices. But the weakening ruble should curb the decline in the ruble index,” BitRiver’s financial analyst Vladislav Antonov said.

Senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said that a decline in oil on Monday will put pressure on Russian asset prices.

He also said that the mood in the world markets on Tuesday morning can be described as positive.

According to head of Alor Broker’s investment consulting department Alexei Antonov, one reason for the decline was a change in Goldman Sachs' oil price forecast for 2023. The bank now expects oil to cost U.S. $86 a barrel at the eand of 2023, down $9 from its previous estimate.

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