Crude oil prices rose today, helped by a government report on oil stocks in the United States. Note that, according to data from the Department of Energy, last week the oil reserves rose by 947,000 barrels, while reaching a level of 388.600 million Note that according to the average estimates of experts, the oil reserves should grow by 2 million barrels. Recall that for the week that ended April 5, stocks reached 22-year high - at 388.900 million addition, it was reported that the consumption of gasoline last week rose by 0,367 million barrels per day to 8.75 million barrels per day, while the oil terminal in Cushing last week rose by 0.035 million barrels to 51.183 million barrels. Meanwhile, a report showed that U.S. distillate stocks rose by 0.097 million barrels to 115.278 million barrels, while gasoline stocks in the U.S. fell by 3.928 million barrels to 217.802 million barrels. At the same time, the U.S. Department of Energy reported that refinery utilization in the U.S. 83.5% versus 86.3% a week earlier.

In addition, we note that futures climbed as much as 1.4% on speculation that the European Central Bank cut its key interest rate to a record low next week to support growth.

Recall that the State Minister Ali al-Dabbagh said yesterday that Iraq may withdraw from the Organization of Petroleum Exporting Countries, if the group does not allow the country to increase production. It is learned that OPEC should make way for 5000000 barrels per day for the Iraqi oil exports in the future. Recall that the country is the second largest producer in the group with the extraction of 3200000 barrels per day.

The cost of the June futures on U.S. light crude oil WTI (Light Sweet Crude Oil) rose to 90.50 dollars per barrel, the lowest intraday level since Dec. 19.

June futures price for North Sea Brent crude oil mixture rose $1.08 to $101.53 a barrel on the London exchange ICE Futures Europe.

Gold prices rose today, as physical demand increased speculative buying after falling in the previous session. We also add that support the precious metal had weak economic data for Germany, which increased the chance that the European Central Bank (ECB) may lower interest rates. These German institute Ifo, published today, showed that business confidence in Germany deteriorated sharply in April, undermining hopes that the largest country in the eurozone will lead to a return of the region's economic growth. Deterioration of business prospects in all sectors of the economy has led to a drop in Ifo sentiment index the second consecutive month to 104.4 in April from 106.7 in March. Value was lower than the forecasts of economists had expected the index to be 106.2. It is said that the German economy is experiencing difficulties with the return to economic growth at the beginning of the 2nd quarter and that economic growth in 2013 could be weaker than expected.

Experts note that although investor confidence has not yet fully recovered from a substantial fall gold and outflow of exchange-traded funds, the demand for gold bars and coins, after all, grew up after prices fell to the lowest level in more than two years.

The data also showed that the stock of gold in the SPDR Gold Trust - the world's largest exchange-traded fund, fell yesterday by 0.68% to 1,097.19 tons from 1,104.71 tonnes on Monday, its lowest level since October 2009.

The cost of the June gold futures on COMEX today rose to 1424.10 dollars per ounce.

Change % Change Last

GOLD 1,413.40 -7.80 -0.55%

OIL (WTI) 89.34 0.15 0.17%