Oil prices rose moderately, while continuing yesterday's increase, due to the anticipation of the publication of data on oil reserves in the United States, as well as statements by the Fed.

It should be emphasized earlier today the price of Brent crude oil slipped more than 1% after the Iranian representatives to visit Beijing after reaching an agreement on its nuclear program last week. The agreement paved the way for increasing the supply of Iranian oil, but analysts believe that the increase in the volume of exports would take months.

Traders are waiting for data from the US Department of Energy, which will be released on Wednesday, to understand whether the achieved production and peak oil. According to analysts last week, US crude stocks rose to record highs 13th consecutive week, while gasoline inventories fell. If it does not, the rise in prices could stall.

With regard to the statements on the eve of the Federal Reserve Bank of Atlanta President Dennis Lockhart expressed the view that the Fed should raise no earlier than the July meeting. "I am inclined to lift rates at the July or September meeting, but not at the June - he said. - By this time, we will have more information and we will give the economy a little more time to prove that the first quarter of this year was abnormal" . Meanwhile, the head of the Federal Reserve Bank of Minneapolis Narayana Kocherlakota said that the Fed should "be very patient in terms of reductions in incentive" and raising rates this year would be a "mistake."

Small effect has also had a report from Goldman Sachs, which reported that US crude stocks will peak in April and May and September will decline by an average of 350,000 barrels per day, because these months have peak consumption. Since October stocks will rise again, keeping prices at a low level until the beginning of 2016, the bank said in a report. "For a sufficient and stable production slowdown in the United States requires that prices were low in the coming months," - wrote analysts Goldman Sachs.

Higher prices for WTI brand also contributes to the end of maintenance work at refineries and oil refining growth before the summer increase in demand for fuel.

May futures for US light crude oil WTI (Light Sweet Crude Oil) rose to 53.11 dollars per barrel on the New York Mercantile Exchange.

May futures price for North Sea petroleum mix of Brent increased by $ 0.76 to 58.40 dollars a barrel on the London Stock Exchange ICE Futures Europe.

Gold moderately cheaper today, departing seven-week high, due to the strengthening of the US dollar and the rise in global stock markets. Meanwhile, a further fall in prices is constrained by uncertainty about the timing of interest rate hikes in the United States, which intensified after weak employment data.

Recall stronger US dollar is putting pressure on gold, as reduces the metal's appeal as an alternative asset and makes dollar-denominated commodities more expensive for buyers in other currencies. Meanwhile, the delay in raising interest rates contribute to the demand for gold, as it reduces the relative cost of metal retention by ensuring increased profits for investors.

"Gold is likely to continue to depend on the dynamics of the dollar and expectations of rising interest rates in the United States - said analyst ActivTrades Carlo Alberto de Casa. - The next support levels are at $ 1,192 and then $ 1,182."

Meanwhile, an analyst at ANZ Bank Tianpiriya Victor said: "We have not changed expectations about raising the key rate US Federal Reserve in the middle of this year, but Friday's weak data indicate that the rate will be increased rather later than sooner." In addition, experts expect the price of gold will fall to $ 1,100 an ounce by the end of June under pressure from stronger dollar.

As for the situation in the physical market, the Asian demand for the precious metal remains weak at present value. Award at the Shanghai Gold Exchange has fallen below $ 1 per ounce to the spot price in London compared with about $ 2- $ 3 last week, as Chinese buyers returned to the market after the holidays.

May futures for gold on the COMEX today fell to 1213.00 dollars per ounce.

Oil is trading lower today after yesterday's strong rally ahead of today's API Crude Oil Inventories and Wednesday's official report on U.S. stockpiles. Monday's gains were driven by a report that U.S. supplies surprisingly dropped.

Saudi Arabia, the OPEC's biggest producer, raised prices for its exports to Asia.

Today Goldman Sachs published a report in which the bank says that oil prices have to remain low for an extended period of time in order to slow down U.S. output growth.

Iran, if sanctions will be fully removed, is expected to need some months in order to increase its exports.

Brent Crude lost -0.34% currently trading at USD57.92 a barrel. On January 13th Crude set a low at USD45.19. West Texas Intermediate dropped -0.86% currently quoted at USD51.69.

Oil prices declined sharply in recent months as worldwide supply exceeds demand in a period of low global economic growth, pushing stockpiles to record highs and weighing on prices.

Gold is trading lower today, retreating for a second day and of 7-week highs. Gold prices were pushed lower by a stronger U.S. dollar as the precious metal becomes more expensive for holders of other currencies. Weaker-than-expected U.S. labour market data from Friday makes it more likely that the FED will raise interest rates later than previously expected - normally lending support to the precious metal.

Gold is currently quoted at USD1,207.90 -0,22% a troy ounce, still slightly above the USD1,200 level. 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 52.14 +6.11%

Gold 1,214.50 -0.34%