Prices for crude oil West Texas Intermediate rose moderately, while closer to $ 68 per barrel, as a government report pointed to a decline in US oil inventories. Meanwhile, the price of Brent crude oil fell slightly.

US Department of Energy announced that commercial oil reserves in the week 22-28 November fell by 3.7 million barrels to 379.3 million barrels, while the average forecast of anticipated growth of 600,000 barrels. Gasoline inventories rose by 2.1 million barrels to 208.6 million barrels. Analysts had expected gasoline inventories increase compared to the previous week at 800,000 barrels. Distillate stocks rose by 3 million barrels to 116.2 million barrels, while analysts had expected a decrease of 300,000 barrels.

Utilization rate of refining capacity increased by 1.9 percentage points to 93.4%. Analysts expected an increase of 0.4%. We also learned that the oil terminal in Cushing decreased by 0,694,000. Barrels - up to 23.885 million. Barrels

Recall yesterday's data from the Institute API reported a drop of oil reserves by 6.5 million. Barrels (per week to 28 November). Also, it was reported that gasoline inventories in the US have remained unchanged, while distillate inventories rose by 2.5 million. Barrels.

The course of trading and continues to influence the recent decision by OPEC. "The market is still trying to get back on their feet after the OPEC meeting last week. It seems there is some short-term support in the mark of 70-72 dollars per barrel mark Brent. But, in general, the market is still suffering from the uncertainty, "- said analyst Danske Bank A / S Jens Pedersen.

Worth to emphasize that in recent days, the market is characterized by sharp ups and downs in prices. "The instability of the market due to the fact that investors are trying to predict future events," - said the chief investment officer of Ayers Alliance Securities Jonathan Barrett. According to him, prices are close to the lower limit, because Russia can take some measures to stabilize them. Technical analysts believe that the fall in prices continue and the price of WTI crude oil could fall to $ 50 per barrel.

Cost of January futures for US light crude oil WTI (Light Sweet Crude Oil) rose to 67.74 dollars per barrel on the New York Mercantile Exchange.

January futures price for North Sea Brent crude oil mix fell $ 0.41, to $ 70.64 a barrel on the London Stock Exchange ICE Futures Europe.

Gold prices rose today, while a foothold above $ 1,200 an ounce, as the firmer oil prices led investors to seek more volatile products. Meanwhile, a further rise in prices is constrained by the strengthening of the US currency (US dollar index, which tracks the greenback against a basket of six major currencies, traded at 88.90, the highest since March 2009). A stronger dollar usually puts pressure on gold, as it reduces the metal's appeal as an alternative asset and raises the price dollar products for holders of other currencies.

Positive impact on the stock of the American labor market data, which were worse than expected. As it became known, private sector employment increased by 208,000 jobs in October and November. Expected to increase to 223 thousand. We also add that the figure for October was revised up to 233 thousand. To 230 thousand. Among producers employment increased by 32,000 jobs in November, compared with 46,000 jobs in October. The construction industry added 17,000 jobs during the month, well below the growth in the past month by 27 000. Meanwhile, the productive sector added 11,000 jobs in November, which is slightly less than the October 13 000. Employment in the services sector grew by 176,000 jobs in November compared with 187,000 in October.

Also today it was announced that the world's largest reserves of the gold-Fund ETF SPDR Gold Trust on Tuesday rose by 2.4 tons, but still close to six-year low.

"We expect that the pressure on the price of gold to continue in the first half of next year amid increasing rumors of the impending increase in US interest rates," - the report says Commerzbank. The bank forecasts that gold will fall in price up to $ 1,125 in the second quarter of 2015, but by the end of the year the price will rise to $ 1,250.

"The main factors for gold in the medium and long term, will the US economic recovery and the expected rise in interest rates next year, which should reduce investor demand for precious metals," - said an analyst at Julius Baer Carsten Menke.

Cost of January futures for gold on the COMEX today rose $ 5.14 to 1213.70 dollars per ounce.

Oil prices recouped losses. Earlier in the week on Monday futures fell to their lowest level since 2009, as investors opened short positions in anticipation of lower prices in response to OPEC's decision last week to maintain current levels of production of 30 million barrels a day. In today's trading session Brent Crude gained +0.33% trading at USD70.77 a barrel, and WTI Crude added +0.60% currently quoted at USD67.28.

Yesterday the head of the International Energy Agency, Maria van der Hoeven said the fall in prices a serious challenge especially for companies that extract oil from unconventional sources. For example, the rapid growth of shale oil in the US, probably began to slow: according to Reuters, last month, the number of issued permits in the United States to drill new wells in shale deposits decreased by 15% compared with the previous month, according to the reduction in the number of permits issued on drilling in October.

Gold is currently trading at USD1,208.50 a troy ounce just above the important level of USD1,200 despite a broadly stronger greenback. A stronger U.S. dollar usually weighs on gold. Investors await important U.S. data later in the session to obtain further clues on when the FED is going to raise interest rates. Gold was trading highly volatile in the last sessions along with oil prices as they are affecting inflation and the precious metal is often used as inflation-hedge.

Experts note that the prices of precious metals are likely to remain reduced and tend to decline further in the near term amid signs of strengthening US economy, which could cause the Fed to raise interest rates sooner and faster than previously predicted.

GOLD currently trading at USD1,203.80

BLOOMBERG

Ruble Slides as Russia Slowdown Signs Fuel Worst Rout Since 1998

The ruble extended its worst rout in 16 years as a slump in Russian business activity showed the economic slowdown is worsening, undermining central bank attempts to shore up the currency.

The ruble sank 1.7 percent to 54.78 versus the dollar by 11:01 a.m. in Moscow, after touching a record-low for a fifth straight day. The currency has fallen 18 percent in the past seven days, the most since October 1998. The Bank of Russia said today it sold $700 million on Dec. 1, its first intervention since moving to a free float almost a month ago.

Source: http://www.bloomberg.com/news/2014-12-03/russia-central-bank-intervened-to-stem-ruble-slide-amid-oil-rout.html

REUTERS

Euro hits 27-month low vs. strong dollar on ECB easing bets

(Reuters) - The euro slid to a 27-month trough against a buoyant dollar on Wednesday, a day ahead of a crucial European Central Bank meeting that could pave the way for more easing measures in the euro zone.

The greenback also hit a seven-year peak against the yen, boosted by comments from U.S. Federal Reserve officials who painted an upbeat picture of the U.S. economy despite falling oil prices, prompting a ramping up of expectations of a mid-2015 interest rate rise.

Source: http://www.reuters.com/article/2014/12/03/us-markets-forex-idUSKCN0JG15720141203

REUTERS

Exclusive: New U.S. oil and gas well November permits tumble nearly 40 percent

(Reuters) - Plunging oil prices sparked a drop of almost 40 percent in new well permits issued across the United States in November, in a sudden pause in the growth of the U.S. shale oil and gas boom that started around 2007.

Data provided exclusively to Reuters on Tuesday by industry data firm Drilling Info Inc showed 4,520 new well permits were approved last month, down from 7,227 in October.

Source: http://www.reuters.com/article/2014/12/03/us-usa-oil-permits-idUSKCN0JG2C120141203