Russia fixes $65.2 price for first rubles oil deal

MOSCOW, June 8 (RIA Novosti) – The Russian Trading System, Russia’s premier stock market, announced Thursday the first futures contract on Urals oil blend had been concluded at $65.2 per barrel and the trade in gold futures had started.

The first oil deal was denominated in rubles (1751 rubles) based on prices calculated by the Platts agency and covered 10 barrels. The settlement period for the contract is one month and the security guarantee on the contract is 10% of its overall value. RTS collects a 1-ruble commission for each concluded contract.

RIA Novosti