Brent Oil Drops, Ruble Follows

The Russian ruble fell against the US dollar today after price for Brent crude oil decline amid growing concerns that the debt issues in the countries of the European Union are worsening.
Brent grade of crude oil was down 1.2 percent to $94.95 per barrel today. The decline followed negative signs from Europe. Spanish bad loans reached the highest proportion of total credit since 1994 in April. Greek leaders are going to renegotiate terms of the bailout package.
USD/RUB rose from 32.3900 to 32.4950 as of 13:23 GMT today and its intraday high was at 32.6850.

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