Oil prices rose modestly, climbing above $ 50, aided by the decline of the dollar and fears of oil supply disruptions in Nigeria. A further price growth is limited to the US data on oil production, which indicate the production recovery.

The dollar continues to fall in price today, continuing Friday's dynamics, which is associated with the publication of an extremely weak US labor market data. These findings have significantly reduced market expectations regarding the Fed's base rate increase of participants at the next meeting. Now, investors' attention is directed to the speech of the Fed's Yellen. She previously stated about the possibility of raising interest rates in the near future.

With regard to the situation in Nigeria, concerns about supply disruptions worsened after local rebels took responsibility for three successive attacks on oil infrastructure in Nigeria this weekend, promising to completely stop production.

According to experts, in recent weeks, supply disruptions from Nigeria and Canada have reduced the supply of oil on the market for more than 3 million barrels per day.

On the dynamics of trading also continues to influence Friday's report from the American company Baker Hughes, which showed that on the basis of which ended June 3 workweek in the United States the number of drilling rigs has increased by 4 points, or 0.9%, and amounted to 408 units. In annual terms, a decline of 460 units or 52.9%. The amount of oil rigs week increased by 9 units, or 2.8%, up to 325 pieces.

WTI for delivery in July rose to $49.62 a barrel. Brent for July rose to $50.54 a barrel.

Saudi Arabia on Sunday lowered the prices it charges for crude oil in Europe. Saudi Arabian Oil Co., the country's state-owned oil company, said that it cut its light crude by $0.35 a barrel to Northwest Europe and by $0.10 a barrel in the Mediterranean for July delivery.

Saudi Arabia tries to defend its market share as Iran was raising its oil exports after the lift-off of the sanctions.

Saudi Arabia raised its light-crude prices by $0.35 a barrel to the Far East and by $0.10 a barrel to the U.S.

The oil driller Baker Hughes reported on Friday that the number of active U.S. oil rigs rose by 9 to 325 last week.

The number of gas rigs declined by 5 to 82.

Combined oil and gas rigs increased by 4 to 408.

(raw materials / closing price /% change)

Oil 48.92 +0.62%

Gold 1,248.40 +0.44%