Ruble Gains Most Among Major World Currencies as Oil Surges
- Russian currency reverses earlier 0.5 percent decline
- Finance Ministry sold 27.4b rubles of 30b ruble bonds offered
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The ruble gained the most among major currencies and Russian shares rallied as crude soared, luring investors to increase bets on the world’s biggest energy exporter.
Russia’s currency advanced 0.9 percent against the dollar to 67.97 by 8:25 p.m. in Moscow, reversing declines of as much as 0.5 percent. Brent crude jumped 5 percent to $39.76 a barrel after U.S. stockpiles dropped from the highest level in more than eight decades. Shares in Lukoil PJSC, the country’s second-largest oil producer, rose to the highest since March 22.