Oil futures have returned to positive territory, supported by the fall in the US currency and the statements of a number of Fed officials.

The US Dollar Index, showing the US dollar against a basket of six major currencies, was down 0.1%, returning to a session low. As oil prices are tied to the dollar, a weaker dollar makes oil cheaper for holders of foreign currencies.

Investors also drew attention to the monthly report of OPEC. It was reported that in 2016, production in the United States, Russia, Norway and several other countries will be approximately 190,000 barrels per day higher than expected. This factor may indicate that oil production outside OPEC was stable, despite low oil prices. As expected by the cartel, by 2017 oil supply will exceed demand by about 760,000 barrels a day, which is more than three times higher than the previous forecast.

Speculative oil traders were also less confident in the high oil prices - data Commodity Futures Trading Commission US showed that net long positions fell in the second week in a row.

According to Baker Huges report on the results ended Sept. 9, the number of US rigs increased by 11 units, or 2.21%, to 508 units. The number of gas-producing plants has increased by 4 points or 4.54% and amounted to 92 units.

The cost of the October futures for US light crude oil WTI (Light Sweet Crude Oil) rose to 46.37 dollars per barrel on the New York Mercantile Exchange.

October futures price for North Sea petroleum mix of Brent crude rose to 48.41 dollars a barrel on the London Stock Exchange ICE Futures Europe.

Gold moderately cheaper to new weeks low move caused by increased speculation about the potential increase in Fed rates this month.

Despite recent disappointing economic data "hawkish" comments from Fed officials suggest the possibility of a hike in September. Recall, on Friday, the Federal Reserve Bank of Boston President Rosengren noted that raising interest rates would be a "reasonable option" to avoid overheating the economy. However, today the head of the Federal Reserve Bank of Minneapolis Kashkari said that at the moment to stimulate the economy are necessary instruments of fiscal policy, as well as regulatory measures. "We need to support economic growth, do not think that only the monetary policy can do it" - said Kashkari. Meanwhile, the Federal Reserve Bank of Atlanta President Lockhart said that the Central Bank is getting closer to a further increase in interest rates, but declined to speculate about when this might happen. Investors are now waiting for another speech by the Fed's Lael Brainard. Some suggest that Brainard will be more sympathetic to the idea of ​​a rate hike. According to the futures market, the likelihood of a hike is 21% in September.

Commodity Futures Trading Commission data showed that hedge funds and money managers increased their net long position in gold contracts on the COMEX to 9-week high.

In addition, it became known that the stocks of the world's largest exchange-traded fund SPDR Gold Trust fell on Friday by 1.12 percent, to 939.94 tonnes.

The cost of the October futures for gold on COMEX fell to $ 1324.3 per ounce.

(raw materials / closing price /% change)

Oil 45.71 -0.37%

Gold 1,331.80 -0.20%