Oil futures become cheaper again after a moderate increase earlier today. Negative influence report on US petroleum inventories

US Department of Energy reported that crude oil inventories rose in the week 23-29 April by 2.8 million barrels to 543.4 million barrels, a record high for this time of year. Analysts had expected an increase of 1.444 million. Barrels. Meanwhile, oil inventories in Cushing terminal rose 243,000 barrels to 66.3 million barrels. Gasoline stocks rose by 536,000 barrels to 241.8 million barrels. Analysts had expected stocks to fall 200,000 barrels. Distillate stocks fell by 1.3 million barrels to 157 million barrels. Analysts expected distillate stocks remain unchanged. The utilization of refining capacity increased by 1.6% to 89.7%. Analysts suggested that the figure will rise to 0.4%. Oil in the US during the week April 23-29, dropped to 8.825 million barrels per day versus 8.938 million barrels per day in the previous week.

Recall, the report presented yesterday by the American Petroleum Institute showed that crude oil inventories in the US for the week rose by 1.3 million barrels. Distillate stocks fell by 2.6 million barrels, while gasoline inventories fell by 1.2 mln. Barrels.

Little support for oil have reported that the company Suncor Energy cuts production due to forest fires in Alberta, Canada. "Fires in Canada have helped to reduce the decline in quotations before leaving the Ministry of Energy report," - said an analyst at Saxo Bank Ole Hansen.

Oil prices rose far more than 60% after reaching lows earlier this year as traders suggest slower growth of production and the beginning of the restoration of the balance in the oil market. "If demand continues to grow, it can be a support factor for oil prices," - said the expert Tyche Capital Advisors Tariq Zahir.

WTI for delivery in June fell to $43.80 a barrel. Brent for June fell to $44.87 a barrel.

Gold retreated from the session low, but still continues to trade in the red zone. Support for precious metals have data on the US labor market, which reduced the likelihood that the Fed will be able to raise twice this year, as planned.

Recall, higher interest rates have a downward pressure on the price of gold, which brings its holders to interest income and that is difficult to compete with the assets, bringing that income against the background of increasing interest rates.

The report submitted by the Automatic Data Processing (ADP), showed that employment growth in the US private sector slowed sharply in April, confounding expectations of experts. According to the report, in April, the number of employees increased by 156 thousand. People in comparison to the revised downward the March index at the level of 194 thousand. (Originally reported 200 thousand.). Analysts had expected the number of people employed will increase by 196 thousand. In addition, data showed that in the sectoral section of the number of employees among the goods-producing companies decreased by 11 thousand., While among those who provide services, rose to 166 thousand.

Gradually, investors' attention switched to the Friday employment report non-farm payrolls, a key barometer of the health of the US economy. "A weaker employment report could push gold prices above $ 1,300," - said an analyst at ABN Amro Georgette Boele. It is expected that the number of employees increased by 200 thousand. After increasing by 215 thousand. In April. The unemployment rate is likely to remain at around 5.1%.

In the course of trading is also affected by yesterday's statements by Fed officials. Recall, the Federal Reserve Bank of Atlanta President Lockhart said that an increase in US interest rates is possible in June. Lockhart said that the country's macroeconomic fundamentals look strong, but the data is received before the June meeting of the paint too rosy a picture. According to him, in April, Fed officials did not change rates, but then they did not have data on GDP for the 1st quarter. Meanwhile, the president of the Federal Reserve Bank of San Francisco John Williams said that he considered it possible to increase the Fed's interest rate in the current year, despite the weak data on economic growth in the 1st quarter. According to Williams, the slowdown in GDP growth in the 1st quarter was likely due to seasonal factors, and he would have expressed support for a rate hike this year, when will accelerate in the coming quarters economic growth.

The cost of the June gold futures on the COMEX fell to $ 1283.8 per ounce.

The U.S. Energy Information Administration (EIA) released its crude oil inventories data on Wednesday. U.S. crude inventories rose by 2.8 million barrels to 543.4 million in the week to April 29.

Analysts had expected U.S. crude oil inventories to rise by 1.4 million barrels.

Gasoline inventories increased by 536,000 barrels, according to the EIA.

Crude stocks at the Cushing, Oklahoma, climbed by 243,000 barrels.

U.S. crude oil imports rose by 110,000 barrels per day.

Refineries in the U.S. were running at 89.7% of capacity, up from 88.1% the previous week.

Oil production fell by 0.2% last week to 8.825 million barrels a day from 8.938 million barrels a day in the previous week.

Private sector in the U.S. added 156,000 jobs in April, according the ADP report on Wednesday. March's figure was revised down to 194,000 jobs from a previous reading of 200,000 jobs.

Analysts expected the private sector to add 196,000 jobs.

Services sector added 166,000 jobs in April, while goods-producing sector shed 11,000.

"The job market appears to have stumbled in April. Job growth noticeably slowed, with some weakness across most sectors," the Chief Economist of Moody's Analytics Mark Zandi said.

"One month does not make a trend, but this bears close watching as the financial market turmoil earlier in the year may have done some damage to business hiring," he added.

Official labour market data will be released on Friday. Analysts expect that U.S. unemployment rate is expected to remain unchanged at 5.0% in April. The U.S. economy is expected to add 200,000 jobs in April, after adding 215,000 jobs in March.

(raw materials / closing price /% change)

Oil 43.88 +0.53%

Gold 1,288.20 -0.28%