Russian stocks seen growing early on oil price recovery

MOSCOW, Jul 26 (PRIME) -- The Russian stock market will likely increase on Tuesday at the start of the session because of the oil price recovery, analysts said.

"Purchases can prevail in the Russian shares again today. Improvement of the situation on the energy market, where the nearest Brent futures are trying to consolidate above U.S. $100 per barrel again will be the key motive for the increase," senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

According to Zvarich, the foreign markets mood is mixed -- the Asian markets trade mixed, the futures for the key American indices lost 0.4%, the Brent oil grew by 1.3% to $101.5 per barrel. 

Alor Broker analyst Alexei Antonov said that the ruble weakening of Monday would additionally boost demand for oil. Europe is to raise its oil product consumption to produce electricity after Gazprom withdrew another turbine from the use on the Portovaya compressor station of the Nord Stream gas pipeline.

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