Russian stocks may fall on decreased oil prices

MOSCOW, Apr 9 (PRIME) -- Russian stocks may decrease at opening on Thursday following a sharp decline in the Brent oil price, analysts said.

“In my view, the MICEX index will open in a minus zone. In the second half of the day, U.S. labor market macro statistics may lead to a moderate growth,” Finam analyst Timur Nigmatullin said.

The publication of disappointing data on U.S. oil reserves pushed the Brent oil price almost 5% down to U.S. $57.2 per barrel on Wednesday, the analyst said.

According to the U.S.’ Energy Information Administration (EIA), hydrocarbon reserves in U.S. storages increased by 10.949 million barrels last week compared to a forecast of 3.429 million barrels and an increase of 4.766 million barrels in the previous week.

Prior to the opening of trading in Russia, the Brent oil price stands at around $56 per barrel.

Foreign background is mixed. S&P futures are falling by 0.1%, while Japan’s Nikkei 225 is growing by 0.66%, analysts said.

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