(raw materials / closing price /% change)

Light Crude 77.33 +0.18%

Gold 1,168.20 +0.04%

WTI oil prices fell sharply today, reaching a three-year low at the same time, since Saudi Arabia lowered the price to buyers from the US. The cost of Brent, the meanwhile, fell to a four-year low.

As it became known today, Saudi Arabian Oil Company reported a decrease in export prices for oil for the US and Asia. "This move by Saudi Arabia indicates that it tries to keep its market share in the US, which has recently declined slightly. Apparently, the Saudis feel comfortable at this price and level of demand, "- said the expert Again Capital LLC John Kildaf. According to him, it seems that Saudi Arabia expects that growth in demand for oil in the winter will allow them to strengthen the position.

"Proposal of crude oil is very high, - said the representative of the consulting firm Energy Security Analysis Sarah Emerson. - The situation is still characterized by significant volatility. I would not be surprised if by the end of the year, Brent closer to $ 80, while also quite possible that it will be at the level of $ 95. "

Pressure on prices has also had today's decision of the European Commission lowered its forecast for economic growth of the eurozone for 2014, citing tensions in Ukraine and the Middle East, along with a lack of investment. The agency said it now expects gross domestic product growth in the block by 0.8% this year compared to the spring forecast of 1.2%. In 2015, the eurozone economy is likely to expand by 1.1% compared with the previous forecast of 1.7%.

Another reason for the decline in value is a concern about the weakening global demand, as well as signs that the Organization of Petroleum Exporting Countries will not cut production to support oil quotations, also exert pressure in recent weeks. Some market analysts believe that only a reduction in production in the oil cartel will stop the fall in prices.

The course of trade is also affected by expectations of the publication of new data on stocks of crude oil and petroleum products in the United States to gauge the strength of demand in the largest consumer in the world.

The cost of December futures on US light crude oil WTI (Light Sweet Crude Oil) fell to $ 76.58 a barrel on the New York Mercantile Exchange (NYMEX).

December futures price for North Sea petroleum mix of mark Brent fell $ 1.57 to $ 82.47 a barrel on the London exchange ICE Futures Europe.

Gold prices rose slightly today, but stayed near four-year low, as the dollar's rebound from multi-year highs against the currency basket eased downward pressure on the metal.

The course of trading also contributed news from the European Commission. According to the European Commission's autumn economic forecast, next year, the region's economy will continue to grow at a slower pace environment of low inflation and high unemployment. According to the forecasts of the European Commission, GDP will grow this year by 0.8% (compared to the previous estimate of 1.2%), 1.1% in the next (against 1.7%), and 1.7% in 2016. Inflation will be 0.5% (compared to the previous estimate of 0.8) in 2014 year, 0.8% (vs. 1.2%) in 2015 and to 1.5% in 2016. The unemployment rate for this time only to fall to 10.8%. Sluggish recovery is mostly due to the weak state of the economy in France and Italy, as well as the stagnation in Germany. Geopolitical concerns and nervousness in the markets represent a great threat to the forecast of the eurozone.

Support prices were weak US data. As it became known, new orders for US factory goods fell for a second consecutive month in September, reflecting a temporary setback for the manufacturing sector. The Commerce Department reported that orders fell 0.6 percent. Orders in August were revised slightly to 10.0 per cent fall instead announced earlier decline of 10.1 percent. Economists had expected orders to fall by 0.4 percent. In September, orders, excluding the volatile transportation category were unchanged for the second month in a row.

Meanwhile, adding that analysts record decline in demand from China, the world's largest buyer of gold. On the one hand, on the sale of gold and luxury goods in China have adversely affected the new anti-corruption laws, the other - on a background of falling prices, investors are waiting for the metal cheaper still.

Also today it was announced that the world's largest reserves of the Fund ETF SPDR Gold Trust on Monday increased by only 0.01 tons, registering with the first increase since October 16. It is worth emphasizing that stocks are still close to a six-year low of 741 tons, which was reached last week.

The cost of December gold futures on the COMEX today rose to 1170.90 dollars per ounce.

Brent crude oil declined more than 3% to near $82 a barrel after Saudi Arabia lowered sales prices to the United States. That was the lowest level since October 2010.

U.S. light crude oil fell to a session low of $75.92, the lowest level since October 2011.

Saudi Arabia cut on Monday its December official selling prices (OSPs) to Asia and Europe on Monday, but lowered its selling prices to the United States.

The growth and inflation forecast cut by the European Commission (EC) also weighed on oil prices. The EC cut its forecast for Eurozone's economic growth to 0.8% in 2014, down from 1.2%. The economic growth in the Eurozone is lowered to 1.1% in 2015, down from 1.7% previously.

Gold prices further declined Monday but turned positive today currently trading at $1171.50 as the USD declined relieving some pressure after investors speculated on future interest rate rises of the Federal Reserve after ending bond-buying last month and the unexpected expansion of Bank of Japans stimulus. But the market sentiment on gold still stays negative.

U.S. data later that week with potential impact on the USD and U.S. monetary policy will be in the focus. A strong USD tends to push down gold, which is priced in USD, as it is getting more expensive for holders of other currencies.