Yesterday oil quotes attempted to rise amid easing trade tensions and positive data from the Energy Information Administration. The official report from the US Department of Energy turned out to be better than the one from the American Petroleum Institute. It showed a decline of 4.77 million barrels in the US oil stockpiles during the week that finished on August 30. Investors highly appreciated this news. Market players are waiting to get more positive news from Baker Hughes tonight. The weakly report regarding the drilling activity in the country is due. Brent crude soared out of the trading range of $58-61 per barrel and hit $62.35. Although, it came back to the previous levels by the time the market closed. So, it was just a short-term reaction of market participants. Even though the United States and China agreed to continue with their trade talk in early October, the uncertainty is still high, while the signs of a global economic slowdown remain visible. Nevertheless, investors did not lose the risk appetite. The ruble is trading at 66.00 today. The expectations that the Federal Reserve System will cut its interest rate for several times provide support to the Russian currency. After the news from the US labor market is out, Fed Chairman Jerome Powell will give a speech. He may hint at the upcoming easing of the regulator’s monetary policy. In the meantime, the Russian central bank has already reduced its key rate today by 25 basis points to 7.00%. Now we will focus on the rhetoric and hints of the Federal Reserve Chairman.