Bloomberg News

MSCI Russia Energy Index Slumps Most in 2 Weeks as Oil Tumbles

July 20, 2012

MSCI Inc.’s Russia Energy Index (MXRU0EN) fell the most in two weeks as the nation’s oil producers retreated after crude dropped for the first day in eight in New York.

The MSCI Russia Energy Index declined 1.8 percent to 966.04 by 7:11 p.m. in Moscow, the most since July 6. OAO Rosneft dropped 1.4 percent to 205.39 rubles on the Micex Index. OAO Surgutneftegas retreated 1.1 percent to 27.15 rubles. OAO Tatneft (TATN) declined 2.6 percent to 192.12 rubles. OAO Lukoil fell 1 percent to 1,805.20 rubles and OAO Transneft retreated 1.9 percent to 50,540 rubles.

Oil, Russia’s biggest export earner, fell from a nine-week high in New York, as worse-than-expected U.S. manufacturing and existing home sales data spurred concern crude demand may be weakening. Oil retreated 1.5 percent to $91.31 a barrel.

To contact the reporter on this story: Ksenia Galouchko in Moscow at kgalouchko1@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


We Almost Lost the Nasdaq
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus