Oil prices rose by about 1 percent, approaching to the psychological mark of $ 50 per barrel, which was associated with the expectations of the publication in the US petroleum inventories report

US Department of Energy reported that in the week ended May 20, commercial crude oil inventories fell by 4.2 million barrels, while analysts had expected a decline of 2.5 million barrels. In recent weeks, stocks fell to 80-year highs, increasing expectations about what the global excess supply may decrease. However, gasoline inventories last week rose unexpectedly, as demand declined, US Department of Energy data showed. After Memorial Day in the US should begin the season of active road trips, and a relatively low consumption can put pressure on prices. Gasoline inventories in the US rose by 2.043 million barrels to 240.111 million barrels. Distillate stocks fell by 1.284 million barrels to 150.878 million barrels. Meanwhile, oil inventories in Cushing terminal fell by 0.649 million barrels to 67.624 million. Barrels. Workload refinery in the United States decreased to 89.7% from 90.5% a week earlier. Oil in the US last week fell the 11th week in a row, reaching 8.8 million barrels per day. The peak of production was recorded in April 2015 at 9.7 million barrels a day.

Recall yesterday's report from the API revealed that US crude stocks the previous week declined by 5.137 million. Barrels, while analysts expected a decrease of 3.3 million barrels. Stocks of crude oil at the terminal in Cushing fell by 0.189 million barrels, gasoline inventories rose by 3.6 million barrels, while distillate stocks - fell by 2.9 million barrels.

"Scheduled and unscheduled interruptions of oil supplies continue to affect the dynamics of the market", - noted in the Energy Aspects. "If the current level of disruption will be kept sharp drop in crude oil stocks in storage can begin sooner than expected", - analysts say the company added.

In focus were also statements by the Minister of Energy of Qatar, Mohammed bin Saleh Al-Sada, who is also the head of OPEC. He believes that at the moment is vital minimum price of $ 65 per barrel. According to estimates, there are no oil is trading at a fair price. June 2 representatives of the member countries of OPEC will convene the next meeting in Vienna. Discussion will focus on the possibilities of raising prices and stabilize the market.

WTI for delivery in July rose to $49.06 a barrel. Brent for July rose to $49.17 a barrel.

Gold prices declined moderately, reaching a seven-week low, the cause of which is to increase the likelihood of higher interest rates the Fed in the near future. Pressure on the quotes also provides strengthening of the American currency.

Precious metals fell more than 4 percent after it posted last week, minutes of the last Fed meeting revived expectations of further tightening of monetary policy of the Fed, that is, to increase the interest rate. 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. Today futures on interest rates Fed indicate that the probability of a rate hike in June is 38% versus 4% at the beginning of last week, and is estimated at 60% in July.

"US economic data point to a gradual improvement in the situation, which in turn promotes the growth of the US currency, - said Naeem Aslam, chief analyst at Think Forex -. In addition, market participants are increasingly believe that the Fed will increase rates in June."

Today, the dollar reached a two-month high against a basket of currencies on expectations that the Fed will raise rates in the near future. A stronger dollar usually puts pressure on gold, as it reduces the metal's appeal as an alternative asset and increases in the price of dollar-denominated commodities for holders of other currencies. According to analysts, gold may continue to decline to around $ 1,200 an ounce, the lowest level since early February. "This mark will soon be tested for strength," - said in Commerzbank.

In addition, it became known that the gold reserves in the largest gold ETF-fund SPDR Gold Trust fell Tuesday by 3.9 tonnes to 868.66 tonnes. It was the first decline for the month.

The cost of the June gold futures on the COMEX fell to $ 1222.2 per ounce.

The U.S. Energy Information Administration (EIA) released its crude oil inventories data on Wednesday. U.S. crude inventories fell by 4.2 million barrels to 537.1 million in the week to May 20.

Analysts had expected U.S. crude oil inventories to decline by 2.5 million barrels.

Gasoline inventories increased by 2.04 million barrels, according to the EIA.

Crude stocks at the Cushing, Oklahoma, slid by 649,000 barrels.

U.S. crude oil imports decreased by 362,000 barrels per day.

Refineries in the U.S. were running at 89.7% of capacity, down from 90.5% the previous week.

Oil production fell to 8.767 million barrels a day last week from 8.791 million barrels a day in the previous week.

(raw materials / closing price /% change)

Oil 49.10 +0.99%

Gold 1,227.20 -0.16%