Oil prices rose modestly today , rising above $ 110 per barrel (Brent) and $ 98 per barrel as the market ignored the decision by the U.S. Federal Reserve on the reduction of its program of monetary stimulus , and focused on the reduction in U.S. oil inventories . Oil prices have faced some obstacles early in the session after the dollar rose strongly on the decision of the Federal Reserve , but were able to grow at that time , as U.S. traders arrived at their jobs.

The only negative factor for oil were present data on the number of applications for unemployment benefits , but even they could not stop the rise in prices. As it became known , the number of people filing for first time applications for unemployment benefits rose a second consecutive week , becoming a potentially troubling sign for the labor market , which showed strengthening .

The number of initial claims for unemployment benefits , a measure of layoffs, increased by 10,000 and amounted to a seasonally adjusted 379,000 in the week ended December 14. This is the highest level since March and well above 336,000 new claims economists expected . Analyst Department of Labor said that there were no special factors influencing the latest figures , but he cautioned that the data on applications tend to be volatile during the festive season . The number of applications from the previous week was revised up to 369,000 . New applications jumped by 74,000 in the past two weeks after moving to six - year lows in late November.

The course of trade also continue to influence yesterday's data from the U.S. Department of Energy on wholesale inventories of raw materials in the country , which fell by 2.9 million barrels , while analysts expected a decline of 2.3 million barrels.

Cost January futures for U.S. light crude oil WTI (Light Sweet Crude Oil) grew by $ 0.72 - to $ 98.52 per barrel on the New York Mercantile Exchange.

January futures price for North Sea Brent crude oil mixture increased by $ 1.07 to $ 110.36 a barrel on the London exchange ICE Futures Europe.

Gold prices declined significantly today , while reaching its lowest level since July this year , given the fact that yesterday the Fed announced the decline in bond purchases , as a first step in the rejection of the super soft monetary policy. Note that earlier this policy helped the gold price rise to a record high , and it is up to $ 1,920 per ounce.

The Federal Reserve announced that will gradually collapse quantitative easing program from January 2014. This ministry said after a meeting of the Committee on the open market . The volume of the initial reduction of redemption will be $ 10 billion - to $ 75 billion from $ 85 billion the Fed motivates its decision strengthening the U.S. labor market . Measures to reduce the bond purchases will be taken further if the economic recovery continues.

We add that the expectation that the program will be reduced , the price of gold dropped by more than 25 percent this year , recording the biggest drop in more than 30 years.

The course also influenced today's trading data on the U.S. housing market . As it became known that sales of existing homes fell to the lowest level in nearly a year in November , becoming evidence that higher mortgage rates are forcing buyers wary of making purchases of real estate.

Sales of existing homes fell by 4.3% compared with the previous month to a seasonally adjusted annual rate of 4.90 million , said Thursday the National Association of Realtors. Home sales fell 1.2 % compared with a year earlier, the first time in 29 months, this figure fell compared with the same period last year. Economists had forecast a decline of 2.0% from October to November to an annual rate of 5.04 million .

Meanwhile , another report showed that investors continue to reduce positions in traded on the exchange funds gold. Withdrawal of assets amounted to 800 tons this year . The largest gold fund , SPDR Gold Shares, said Wednesday that its assets decreased by 4.2 tons .

The cost of the December gold futures on the COMEX today dropped to $ 1202.30 per ounce.

Gold $1,223.6 -7.60 -0.62%

Oil $97.58 +0.36 +0.37%