Prices for WTI crude oil rose slightly , reaching at this two-week high on signs that U.S. economic growth is accelerating, while the price of Brent crude oil fell slightly . One report showed that U.S. industrial production rose in December and finished the year on a high level . Industrial production, which measures output in the manufacturing sector , the municipal sector and the mining sector increased by a seasonally adjusted 0.3 % last month compared with November . During 2013 , total production increased by 3.7%. Capacity utilization rose 0.1 percentage points to a level of 79.2% .. The November growth was revised down slightly to 1.0% . Utilization rate was revised up to 79.1 %.
" WTI crude oil is currently supported by improving economic conditions in the U.S. and a large decrease in commercial reserves of oil ," said Addison Armstrong , director of market research at Tradition Energy in Stamford.
Nevertheless , a slight pressure on the oil futures had a report from Thomson-Reuters and the Michigan Institute , which showed that in January, American consumers feel more pessimistic about the economy than was recorded in the last month.
According to preliminary January consumer sentiment index fell to 80.4 , compared with a final reading for December at 82.5 . It is worth noting that according to the average estimates of experts , the index had to grow compared with the December value to reach 83.4 .
Recall also that presented earlier this week from the OPEC data showed that last year there was a decrease in demand for oil cartel to 29.9 million barrels per day. This year, demand could fall another 400,000 barrels. In such circumstances, the cartel question the need to reduce oil production and the prospect of increased supply on world markets in 2014 may further aggravate the situation .
February futures price of U.S. light crude oil WTI (Light Sweet Crude Oil) rose to $ 94.44 per barrel.
February futures price for North Sea Brent crude oil mixture fell $ 0.20 to $ 106.85 a barrel on the London exchange ICE Futures Europe.
Gold prices have risen markedly today , after mixed economic data for the U.S. , which were published during the week left investors uncertain about the pace of recovery of the world 's largest economy . The market was caught off guard by the news that Deutsche Bank AG (DB) will cease participation in the definition of reference prices for gold and silver in London trading under reducing raw operations after JPMorgan Chase & Co. and Morgan Stanley. Then the bank confirmed the refusal to participate in the gold and silver in the fixing electronic communication , stressing that it will continue trading with precious metals. According to sources , DB wants to sell the place in groups dealing with gold and silver fixing , another member of the Association of the gold market (London Bullion Market Association, LBMA). In December, Deutsche Bank announced the termination of trading with a number of energy , agricultural commodities , dry cargo goods and base metals . Departments of derivatives trading and precious metals will be transferred to the division of markets fixed income and currencies.
As for U.S. data , they showed bookmark new homes in the U.S. fell by 9.8 % last month and reached a seasonally adjusted annual rate of 999,000 . But this figure was significantly higher summer levels and almost coincided with the forecast of economists at 1 million bookmarks in December. Nojabrskie rates were revised to 1.11 million from the previous estimate of 1.09 million, which is the strongest level in more than five years.
In December, the number of building permits indicator of future construction, fell 3.0% to 986,000 units. Permits also fell in November. For all of 2013 the volume of new housing construction rose by 18.3% over the previous year to 923,400 . It was the strongest year since 2007 , the year before the recession began . Building Permits rose 17.5 % from 2012 to 974,700 , it is also the strongest level since 2007. In December , both single-family and multi-family new homes Bookmarks decreased compared with the previous month . Share of single-family homes , the largest and most stable segment of the market , fell 7.0% to an annual pace of 667,000 in December. Despite the drop , the level was the second strongest level since May 2008 .
Recall that the U.S. economic recovery is crucial to assess the likelihood of whether the Federal Reserve continue to reduce the asset purchase program .
Also, add that in China the gold premium on the Shanghai Gold Exchange jumped to about $ 17 per ounce to $ 13 at night. Shopping from China - the world's largest consumer of gold - were high in recent weeks in anticipation of the Lunar New Year celebration on January 31.
Cost February gold futures on the COMEX today rose to $ 1249.00 per ounce.
Gold $1,241.80 +$3.50 +0.28%
Oil $94.08 -$0.09 -0.10%