Where Brent Crude Goes, Russian Stocks Follow?

Where Brent Crude Goes, Russian Stocks Follow? – This is post 1 of 4 in the series “Russian ETFs surging, but can they keep their momentum?”

1. Where Brent Crude Goes, Russian Stocks Follow?
2. Sanctions on Russia: Will It Be the US Against Europe?
3. Russian ETFs Are On A Tear
4. Russia-focused ETFs Under the Looking Glass

Crude oil has been fanning the rise in Russian equities

Brent crude oil prices are considered a benchmark for Russia’s oil exports. It is estimated that oil and gas exports contribute one-third of Russia’s budget revenue. Given this reliance on oil exports, it’s not surprising that energy prices are major drivers of Russian equities. The graph below shows the movement of Brent oil prices along with prominent broad-based...