The price of oil rose moderately today , which was associated with the release of data on stocks in the U.S. and expectations of tomorrow's ECB meeting
The Energy Information Administration U.S. (EIA) reported that commercial U.S. crude inventories last week fell by 3,431 thousand barrels - up to 389,523 million barrels. Gasoline inventories rose by 210 thousand barrels and reached 211,785 million barrels.
Commercial distillate stocks rose for 2012 thousand barrels , reaching 118,093 million barrels. Experts polled by Bloomberg, expected a decrease of oil reserves by 250 thousand barrels , gasoline inventories increase by 400 thousand barrels and distillate stocks increase by 900 thousand barrels. Oil stocks at Cushing , Oklahoma, fell by 321 thousand barrels - up to 21.37 million barrels. We also learned that the capacity utilization rate rose to refining 90.8% against 89.9 % a week earlier .
Recall that yesterday's data from the American Petroleum Institute (API) showed :
- Distillate stocks in the U.S. last week -0.3 million barrels
- Gasoline inventories in the U.S. last week 0.8 million barrels
- Crude oil inventories in the U.S. last week -1.4 million barrels
Traders also paid attention to the U.S. data , which showed that the index of business activity in the U.S. service sector in May 2014 rose to 56.3 from 55.2 the previous month . Experts forecast a rise to 55.6 index points. Subindex , which characterizes the level of employment in the U.S. service sector grew in May to 52.4 points from 51.3 points in the previous month. Podyndeks business activity rose to 62.1 points from 60.9 points.
Prices are rising on the news from Libya. Today, the Libyan state news agency Lana reported that many foreign oil companies evacuate staff from the country in connection with the fighting in the city of Benghazi . Aggravation of the situation in the country threatens new oil supply disruptions from it .
"The situation in Libya is out of control in recent weeks, and production of oil fell to their lowest levels ," - said the managing director of Petromatrix GmbH Olivier Jakob .
The cost of the July futures on U.S. light crude oil WTI (Light Sweet Crude Oil) rose to $ 103.36 per barrel on the New York Mercantile Exchange (NYMEX).
July futures price for North Sea Brent crude oil mixture rose 29 cents to $ 109.10 a barrel on the London exchange ICE Futures Europe.
Gold prices have not changed today , remained near four-month low , which was associated with the release of U.S. employment data , and caution investors ahead of a meeting of the European Central Bank.
Data presented branch organization ADP Research Institute, showed that the number of jobs in the private sector in the U.S. has increased in May by 179 thousand , while the market was expecting an average increase of 217 thousand
" ADP data were slightly worse than expected , - said the director of investments Greenwood Capital Associates Walter Todd . - But investors are in no hurry to respond and await the decision of the ECB and the official data of Ministry of Labor . "
Also the Labor Department reported that U.S. productivity in the first quarter of 2014 decreased by 3.2 % and labor costs - increased by 5.7%. Analysts on average expected a decrease of 2.2% and an increase of 5.3% , respectively.
In addition, it was reported that the country's trade deficit unexpectedly jumped in May to a maximum of two years , reaching $ 47.2 billion against $ 40.8 billion expectations
The dynamics also affect expectations exit Friday employment report in the U.S., which , according to analysts , will show slowing job growth and rising unemployment in May.
"I think prices will stabilize for a short time in the neighborhood of $ 1245 to a new jump in either direction . Investors await jobs report before opening large positions . If the figures are good , interest in gold fall , because other economic data are also good , and the stock markets are close to record highs , "- said a trader in Hong Kong.
Stocks of the world's largest gold exchange-traded fund secured SPDR Gold Trust on Tuesday increased by 1.8 tons to 787.08 tons , but still close to five-year low , pointing to a weak investment demand .
Demand for physical markets in Asia also dropped because buyers are hoping for further price reductions .
The cost of the June gold futures on the COMEX today dropped to $ 1244.2 per ounce.
Gold $1,245.30 +1.30 +0.10%
ICE Brent Crude Oil $108.85 +0.010 +0.009%
NYMEX Crude Oil $102.92 +0.39 +0.38%
EUR/USD $1,3626 +0,21%
GBP/USD $1,6748 +0,01%
USD/CHF Chf0,8962 -0,23%
USD/JPY Y102,53 +0,16%
EUR/JPY Y139,71 +0,37%
GBP/JPY Y171,70 +0,16%
AUD/USD $0,9265 +0,27%
NZD/USD $0,8432 -0,20%
USD/CAD C$1,0907 +0,09%