(raw materials / closing price /% change)
Light Crude 92.47 -0.06%
Gold 1,222.00 +0.01%
The cost of Brent crude fell slightly today, as the high rate of the American currency and increased supply from the Middle East continue to exert pressure on the stock. Meanwhile, the price of WTI crude oil showed a slight increase.
Today, Saudi Arabia, the world's largest oil exporter, reported production of 9597000 barrels of oil per day in August. Despite reduction of 408,000 barrels per day from about 10 million barrels in July, the supply of crude oil to the market, rose to 9.688 million barrels per day in August.
In addition, we add that reportedly Pentagon, USAF, and their Arab allies inflicted air strikes on a small refinery in eastern Syria, controlled group "Islamic state" and is used for illegal transactions with oil.
"The market is mindful of geopolitical risk, but focuses more on supply. There is a possibility that the Brent price closer to $ 90 per barrel, and only if OPEC will take any concrete steps to reduce the supply and maintenance of the price level ", - said a senior analyst at CMC Markets Ric Spooner.
Market participants also continue to assess yesterday's report from the Department of Energy, which showed that commercial oil stocks in the United States last week fell to 4,273,000. Barrels - up to 357,998 million barrels, gasoline inventories decreased by 414 thousand. Barrels - up to 10.324 million barrels, commercial and distillate stocks rose by 823 thousand. barrels - up to 128,595 million barrels. Economists had expected an increase of oil reserves by 750 thousand. Barrels, gasoline inventories immutability and distillate stocks increase by 500 thousand. Barrels.
Influenced the course of trade and current data on business activity. As it became known, a preliminary activity index (PMI) from Markit was 58.5 in September. Market expectations were at the level of 59.4, which is slightly less than the value in the last month at around 59.5. In Markit said: "The continued strong increase in business activity reflects a steep and rapid growth of new orders in September. The last increase in new business volume was the sharpest since June, and one of the fastest observed for the five-year history of the survey. "
The cost of the November futures for the American light crude oil WTI (Light Sweet Crude Oil) rose to $ 93.14 a barrel on the New York Mercantile Exchange (NYMEX).
November futures price for North Sea Brent crude oil mixture fell $ 0.17 to $ 96.79 a barrel on the London exchange ICE Futures Europe.
Gold prices rose sharply, recovering from a nine-month low, which has been associated with the widespread weakening of the American currency. It should be emphasized that from the beginning of September gold fell by 6 per cent last month to complete the strongest decline since June 2013. Demand in the physical market has weakened since last year, when the price fell by 28 percent, but rose slightly in recent weeks. Now traders are waiting for increased demand in the largest gold consumer China and India with the onset of the wedding season and holidays. Sales of gold coins in the United States doubled in September compared with August to 50,000 ounces, according to the United States Mint.
Had little impact as Draghi comments. Speaking at a conference in Vilnius, ECB President Mario Draghi said that the central bank is ready to introduce additional non-traditional instruments, if the inflation target of 2% will be under threat. "We are ready to change the size or composition of our unconventional measures," - said Draghi. ECB President suggested that the euro zone needs to show moderate growth in the second quarter of this year, despite weaker-than-expected economic conditions.
Market participants also drew attention to the data on the United States. New orders for durable goods fell by 18.2% in August compared to the previous month to a seasonally adjusted totaled 245.43 billion. Dollars. This was stated by the Ministry of Commerce. Economists had expected orders for durable goods fall by 17.7% in July. Orders rose by 22.5% in July, revised slightly downward from the initially reported growth of 22.6%, due to the huge surge in aircraft orders. Demand for new cars and trucks also fell in August, while the orders of cars and auto parts fell by 6.4%, after rising 10% in July. But excluding the volatile transportation category orders rose 0.7% in August after a 0.5% decline in the previous month, which was revised to reduce the originally reported 0.8%. Excluding defense goods orders fell by 19% last month after rising by 24.9%.
According to forecasts, the price dynamics of quotations of gold today limited support level of $ 1200.0 per ounce and resistance level $ 1225.0 per ounce.
The cost of the October gold futures on the COMEX today rose to 1220.40 dollars per ounce.