West Texas Intermediate crude fluctuated after equities advanced on bullish comments from hedge-fund manager David Tepper, while analysts forecast that U.S. crude stockpiles climbed from an 82-year high.

Futures rebounded and the Standard & Poor’s 500 Index rose as Tepper, co-founder and owner of Appaloosa Management, told CNBC the economy is improving. A government report tomorrow will probably show that supplies gained 400,000 barrels last week, according to a Bloomberg survey.

North American output growth will be as significant for the global market as China’s economic boom, the International Energy Agency said today. The Energy Information Administration will probably report that U.S. gasoline stockpiles slipped by 1 million barrels last week, according to the median estimate of 11 analysts. Inventories of distillate fuel, a category that includes heating oil and diesel, climbed by 650,000 barrels, the survey showed.

North America will provide 40 percent of the world’s new supplies until 2018 through the development of light, tight oil from shale deposits and oil sands, the IEA said in its medium-term market report.

WTI oil for June delivery decreased to $94.50 a barrel on the New York Mercantile Exchange. Brent oil for June settlement rose 6 cents to $102.88 a barrel on the London-based ICE Futures Europe exchange. Volume for all contracts was 21 percent above the 100-day average.

Gold shows a slight increase in the correction after a three-day decline. In this case, the U.S. currency strengthened, as in an empty economic calendar remains of interest to U.S. traders. Recall that yesterday the U.S. issued a decent report on retail sales, and later head of the Federal Reserve Bank of Philadelphia's Plosser made a number of statements in which repeated that, in his opinion, the size of the QE program should be cut as early as next month. Both of these factors are positive for the USD, due to which today, in the absence of new drivers, steady bullish trend for the buck can be further developed.

At the same time, judging by the disappointing results of the German study, improvement in May, can not be expected, that is clearly a negative factor for the EUR. As the results of recent studies that have been presented today by the Institute of ZEW, this month the German economic expectations were generally stable, showing a slight increase, following a sharp decline in April, which likely indicates to curb the ongoing economic recession in the eurozone. According to the report, in May, the index of sentiment in the business environment has increased to the level of 36.4, compared to 36.3 points in April, which was significantly worse than the forecasts of experts at the level of 39.5.

The cost of the August gold futures on COMEX today rose to 1446.00 dollars an ounce.

Change % Change Last

GOLD 1,430.50 -6.10 -0.42%

OIL 95.04 -1.00 -1.04%