Oil slumped yesterday as talks between western diplomats and officials from Iran that were extended over the set deadline reached an agreement. Yesterday a preliminary framework of a deal between Iran and Western powers was reached. Sanctions will probably lifted step-by-step basis. A final agreement is scheduled for June. If the sanctions will be fully lifted the Iranian oil will flood the already oversupplied market and weigh prices further down.

Brent Crude closed at USD55.13 a barrel, -2.72%. West Texas Intermediate dropped and closed at USD49.14, -0.16%.

Gold closed slightly lower yesterday after Wednesday's strong gains. Today all eyes are on U.S. data on Average Hourly Earnings, Nonfarm Payrolls and the Unemployment Rate. Yesterday the number of initial jobless claims in the week ending March 28 in the U.S. fell by 20,000 to 260,000 from 288,000 in the previous week, beating expectations for a decline by 3,000. The previous week's figures was revised down from 282,000.

Gold is closed at USD1,200.80, -0,03% a troy ounce. On Thursday the 22nd of January gold reached a five-month high at USD1,307.40. On Tuesday the 17^th of march gold traded as low as USD1,142.50, a three-month low.

(raw materials / closing price /% change)

Oil 49.14 -1.90%

Gold 1,200.90 0.00%