Oil prices jumped about 2 percent, and WTI crude oil rose back above $ 40 per barrel. Support to the market have the data from the Ministry of Energy of the United States, who reported a greater than expected reduction of stocks of gasoline at the end of last week.

US Department of Energy announced that from 23 July to 29 July oil inventories rose 1.4 million barrels to 522.5 million barrels. Analysts had expected a decline in stocks by 2 million barrels. Oil reserves in Cushing terminal fell by 1.1 million barrels to 64.1 million barrels. Meanwhile, gasoline stocks fell by 3.3 million barrels to 238.2 million barrels. Analysts had expected a reduction of only 300,000 barrels. Distillate stocks rose 1.2 million barrels to 153.2 million barrels. This rate is still above the upper limit of the average range for this time of the year. Analysts had expected a decline of 100,000 barrels. The utilization of refining capacity increased by 0.9% to 93.3%. Analysts have suggested that the rate will remain unchanged. US domestic oil production decreased to 8.460 million barrels per day versus 8.515 million barrels a day the previous week. Yesterday the American Petroleum Institute reported that US crude stocks for the week ending 29 July fell by 1.3 million barrels, while gasoline inventories fell by 450 thousand barrels.

A further rise in the cost of oil hinders the strengthening of the US currency. Recall increase in the dollar makes the price of commodities, which are defined in the US currency more expensive for holders of other currencies.

In general, experts are skeptical about the prospects for the oil market, noting the increase in the number of drilling rigs operating in the US, as well as signals of recovery of exports from Libya. "The mood is still very pessimistic and depressing - said Commerzbank analyst Eugen Weinberg -. There are factors that should support oil, but at the moment there is no news that could convince investors that the turmoil is terminated."

The cost of the September futures on WTI rose to 40.24 dollars per barrel.

September futures price for North Sea petroleum mix of Brent crude rose to 42.73 dollars a barrel on the London Stock Exchange ICE Futures Europe.

Gold fell nearly $ 10, away from the three-week high, which was caused by the renewed strengthening of the US currency on the back of strong employment data.

The report submitted by the Automatic Data Processing (ADP), showed that employment growth in the US private sector accelerated in July, and was higher than forecasts. According to the data, in July, the number of employees increased by 179 thousand. Analysts had expected the number of people employed to increase by 170 thousand.

Attention gradually switches to Friday's data on the US labor market. It is expected that the results of NFP to be around 175Kt. Investors believe that the data will be strong, so that the Federal Reserve in the next few months will be able to make a rate hike. Recall, the precious metal is sensitive to higher interest rates in the United States, but a gradual increase in rates carries less of a threat to gold. The rise in gold prices by 28 percent this year was largely due to a decrease in the likelihood that the Federal Reserve will soon continue with the rate hikes.

"We expect that the US economy remains on the path to" reasonable "growth, - said Oxford Economics Daniel Smith -. Despite the very poor performance of GDP, it is likely that employment statistics will be very good suporting the issue of increasing the interest rate back on the agenda. "

Gold reserves in the largest investment fund SPDR Gold Trust rose on Tuesday by 0.6 percent, to 969.97 tonnes.

The cost of the August gold futures on COMEX fell to $ 1355.60 per ounce.

U.S. crude oil refinery inputs averaged about 16.9 million barrels per day during the week ending July 29, 2016, 266,000 barrels per day more than the previous week's average. Refineries operated at 93.3% of their operable capacity last week. Gasoline production decreased last week, averaging 10.0 million barrels per day. Distillate fuel production increased last week, averaging over 4.9 million barrels per day.

U.S. crude oil imports averaged over 8.7 million barrels per day last week, up by 301,000 barrels per day from the previous week. Over the last four weeks, crude oil imports averaged 8.3 million barrels per day, 10.4% above the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 637,000 barrels per day. Distillate fuel imports averaged 96,000 barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 1.4 million barrels from the previous week. At 522.5 million barrels, U.S. crude oil inventories are at historically high levels for this time of year. Total motor gasoline inventories decreased by 3.3 million barrels last week, but are well above the upper limit of the average range. Both finished gasoline inventories and blending components inventories decreased last week. Distillate fuel inventories increased by 1.2 million barrels last week and are above the upper limit of the average range for this time of year. Propane/propylene inventories rose 0.3 million barrels last week and are near the upper limit of the average range. Total commercial petroleum inventories increased by 2.1 million barrels last week.

This morning, the New York futures for WTI oil rose by + 0.05% to $ 39.55 and Brent oil futures were down -0.10% to $ 41.77 per barrel. Thus the black gold has limited activity amid anticipation of the US Department of Energy data on oil reserves in the country. The market expects that data will point to the decline in crude oil and gasoline at the end of last week. Also, according to API, oil reserves for the week fell by 1.3 million barrels, while gasoline stocks - 450 thousand barrels.. According to estimates US crude stocks for the week fell by 900 thousand barrels and gasoline fell 300 thousand barrels.

(raw materials / closing price /% change)

Oil 39.72 +0.53%

Gold 1,370.30 -0.17%