Quotes of oil rose to a six-month high, supported by forecasts of the International Energy Agency (IEA), but later the price went back into negative territory against the strengthening of the American currency.

"The catalyst for the recent rally seems to have been the IEA report, which stated that production will fall rapidly and the demand will continue to grow more strongly than previously expected", - said Tom Pug, an economist at Capital Economics.

The IEA report says that the long-awaited balance is restored in the global oil market. "In April, the world's oil reserves increased by 250 thousand barrels to 96.2 million barrels a day, as higher OPEC supply levels more than offset the decline in the countries of supply, non-OPEC, -. The report says -. However, , at an annual rate of world output in April grew by only 50 th. barrels per day, compared with a gain of more than 3.5 million barrels a day a year ago. " Also in the IEA report it notes that in 2016 supply from countries outside OPEC, reduced by 800 thousand. Barrels to 56.8 million barrels per day.

Analysts said that while the IEA data help support prices, the gradual return of the Canadian oil and expectations that prices are approaching levels that could cause the return of some US-made, can put pressure on oil.

In the course of trading also continues to impact on the US Department of Energy report, presented on Wednesday. Recall, the data pointed to a drop of commercial oil reserves by 3.4 million barrels in the week from 30 April to 6. Analysts had expected an increase of 0.5 mln. Barrels.

WTI for delivery in June fell to $45.88 a barrel. Brent for June fell to $46.94 a barrel.

Gold prices declined moderately, returning to the minimum of yesterday's session, as the strengthening of the US dollar prompted some buyers to lock in profits.

Earlier significant support for the precious metal had weak data on the US labor market, but their effect was short-lived, and the price returned to the reduction. Recall, the Labor Department reported that the number of Americans who first applied for unemployment benefits unexpectedly rose last week, reaching its highest level in over a year, which may cause concern about the health of the labor market as a result of a slowdown in the number of job growth seats in April. Primary applications for state unemployment benefits increased by 20,000 and reached a seasonally adjusted 294,000 for the week ended May 7, the highest level since the end of February 2015. Data over the past week have not been revised. Economists had forecast that the primary treatment will be reduced to 270 000 last week. Despite the leap last week, circulation remained below 300,000, a threshold associated with the health conditions of the labor market, for 62 consecutive weeks, the longest period since 1973. Labor Department analyst said there were no special factors influencing the data last week.

"The weakness of the gold that we see today is mainly associated with the strengthening of the dollar, and the approach of quotes to a very important level of $ 1,300," - said Naeem Aslam, Think Forex analyst. The dollar index was up 0.15 percent, supported by the depreciation of the yen, as investors sold the currency amid speculation that the Bank of Japan may decide to increase the monetary stimulus as early as next month.

Gold rose in price by almost 20 percent this year, as weak data on the US and global economic slowdown have dispelled expectations that the Fed will continue to raise interest rates in the near future. 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.

Underlining the optimism with respect to the metal, the gold reserves in the largest gold ETF-fund SPDR Gold Trust rose on Wednesday by 2.7 tonnes to 841.9 tonnes (the highest value since December 2013).

The focus has also been a report of the World Gold Council (WGC), which showed that in January-March, demand for gold in the world increased by 21% and reached a record level for the first quarter on record - 1289.8 tonnes. "A significant proportion of demand provide investors who have decided to recover their investments in gold after the mass liquidation of positions at the beginning of 2013", - said the WGC. World central banks in January-March reduced the purchase of gold reserves by 3%, jewelery demand fell by 19%. Despite this, for the quarter on the market of physical gold for the first time in several years, a deficit: the offer was lower demand by nearly 155 tons.

The cost of the June gold futures on the COMEX fell to $ 1269.2 per ounce.

The International Energy Agency (IEA) released its monthly Oil Market Report on Thursday. The agency said that the global oil oversupply would narrow in the second half of the year.

The IEA noted that global oil supply increased by 250,000 barrels a day to averaged 96.2 million barrels a day in April compared with March as a rise in OPEC output more than offset a decline in non-OPEC production.

According to the IEA, OPEC production increased by 330,000 barrels a day to 32.76 million barrels a day in April, compared with the previous month. The increase was driven by higher output from Iran, Iraq and the United Arab Emirates.

The IEA expects non-OPEC output to drop by 800,000 barrels a day to 56.8 million barrels in 2016.

The agency upgraded its global demand growth for the first half quarter due to a rise in demand in India, China and Russia.

The U.S. Labor Department released its jobless claims figures on Thursday. The number of initial jobless claims in the week ending May 07 in the U.S. increased by 20,000 to 294,000 from 274,000 in the previous week. Analysts had expected jobless claims to rise to 270,000.

Jobless claims remained below 300,000 the 62nd straight week. This threshold is associated with the strengthening of the labour market.

Continuing jobless claims climbed by 37,000 to 2,161,000 in the week ended April 30.

(raw materials / closing price /% change)

Oil 45.99 -0.52%

Gold 1,278.70 +0.25%