The price of oil rose above $ 93 a barrel on Tuesday, inspired by the recent rise in equity markets, which was supported by the expected increase in the supply of oil to the U.S..

While the stock markets in Asia today has significantly decreased, while European equities showed a small increase, the index Dow Jones showed another profitable session, which was the seventh consecutive increase in the session.

Many traders believe that large amounts of oil in the United States will hold the price rise. Recall that last week, the Department of Energy said that crude oil is 10.3% higher than last year, and oil in the United States for more than 7 million barrels a day, which is the highest level since the end of 1990 's.

Data for the week ending March 8, was expected to show that oil stocks rose 2.3 million barrels, while gasoline inventories increased by 1.5 million barrels.

Note also that OPEC announced today that raises forecast for oil outside the cartel in 2013, but reduces forecast for the consumption of its oil. In addition, OPEC forecasts increase in oil supply from outside the cartel in 2013 to 1 million barrels a day, and the demand for its oil in the amount of 29.7 million barrels a day, up to 2013 data also showed that oil production in the OPEC February rose to 30.31 million barrels a day. Meanwhile, adding that OPEC keeps its forecast for growth in world oil demand in 2013 at 0.8 million barrels a day.

April futures price of U.S. light crude oil WTI (Light Sweet Crude Oil) rose to 92.84 dollars a barrel on the New York Mercantile Exchange.

April futures price for North Sea petroleum mix of mark Brent rose 35 cents to $ 110.40 a barrel on the London Stock Exchange ICE Futures Europe.

Prices of oil futures have increased, rising by almost 1% to $ 1,590 an ounce, after comments from ECB Weidmann, who said that inflationary pressures in the euro area is weakening, which can be seen as a sign of further easing of monetary policy. In addition, he reiterated that monetary policy can not solve the problems of the Eurozone. According to Weidmann is fiscal policy, not monetary policy, will determine the way out of the crisis, while only one monetary policy can not fix the structural problems in Europe and to ensure that the resolution of the debt crisis in the Eurozone. A member of the ECB also spoke of the need to continue reforms in the euro area, saying that in the peripheral countries the process of restructuring and are to be completed. Regarding inflation, Weidmann said that inflation expectations are well anchored. At the same time, lower interest rates, or other measures of the ECB monetary policy will not be decisive in overcoming the debt crisis in the Eurozone.

Note also that the sharp rise in prices for the precious metal has been supported by some physical buying in Asia, after the candidate for the post of Deputy Governor of the Bank of Japan Iwata said that the central bank should continue to conduct quantitative easing in its monetary policy, which aims to termination of deflation.

Further, the data showed today, yesterday gold in the SPDR Gold Trust - which is the largest gold exchange-traded fund in the world, fell to its lowest level in October 2011, reaching the mark with 1,236.729, 1,236.739, compared with the previous session.

April futures price of gold on COMEX has increased, and now stands at 1592.20 dollars per ounce.

Change % Change Last

Oil $91.88 -0.18 -0.20%

Gold $1,579.30 +1.30 +0.08%