(raw materials / closing price /% change)

Light Crude 93.76 -0.13%

Gold 1,283.40 0.00%

The price of oil rose slightly today, continuing to recover from a 14-month low, which was associated with the release of data on oil reserves in the United States. Weekly Report of the Ministry of Energy has shown that commercial oil stocks in the United States last week fell by 2,070 thousand. Barrels - up to 360,475 million barrels. Gasoline inventories decreased by 960 thousand. Barrels and reached 212,314 million barrels. Commercial distillate inventories rose by 1,252 thousand. Barrels, reaching 122,794 million barrels. Experts expected a decrease of oil reserves by 2500 thousand. Barrels, gasoline inventories reduction by 1600 thousand. Barrels and distillate stocks stability. We also learned that the oil reserves in the terminal Cushing last week rose by 0,508,000. Barrels to 20.663 million. Barrels and refinery utilization in the United States increased to 93.5% versus 93.4% a week earlier

Recall yesterday after markets closed the American Petroleum Institute reported that American crude oil inventories fell by 1.3 million. Barrels - up to 361.5 million barrels for the week ended Aug. 22, compared to expectations for a decline of 2.5 million. Barrels . The report also showed that gasoline inventories decreased by 3.2 million. Barrels and distillate inventories rose by 2.4 million. Barrels.

Experts note that the oversupply on the world market constrains growth. "The demand is lower than expected, and in the absence of disturbing events in the geopolitical sphere of power industry continues to be under pressure," - said the expert CMC Markets Michael McCarthy. Also worth noting is that Iraq and Libya increase production, despite political instability, and Iraq retains almost record amount of exports from southern terminals in the fighting with Islamists in the north. Saudi Arabia in June reduced the export volume to the lowest in almost three years due to increased consumption in power plants and oil refineries in the country.

Meanwhile, we add that yesterday for scheduled maintenance again closed Buzzard field in the North Sea, only to resume work at the weekend. At Buzzard field produced oil brand Forties, which is the main component in the basket of oil Brent. However, work on the repair and maintenance carried out this summer and delay the delivery of the North Sea, was not enough to prevent a drop in the price of Brent.

The cost of the October futures on American light crude oil WTI (Light Sweet Crude Oil) to the present moment has increased to $ 93.85 per barrel on the New York Mercantile Exchange (NYMEX).

October futures price for North Sea Brent crude oil mixture rose $ 0.08 to $ 102.68 a barrel on the London exchange ICE Futures Europe.

Gold prices fell slightly today, but remained above $ 1,280 per ounce, which is associated with weak demand in Asia, rises in the stock markets and hopes for the new incentives from the European Central Bank.

"The market is still very cautious. The physical market is not as good as in the last month or even last year. We see a significant amount of speculative trading with the major players and hedge funds, "- said the manager GoldSilver Central Pte Ltd Brian Lang.

Meanwhile, the fall in prices is constrained by a decrease in the dollar. A weak dollar usually helps gold, as it boosts the metal's appeal as an alternative asset and decreases in the price of dollar-denominated commodities for holders of other currencies. The dollar jumped to a 11-month high against the euro after last week, ECB President Mario Draghi said in Jackson Hole, the central bank is ready to take more unconventional measures if necessary to stimulate the weak economy in the eurozone.

The course of trade was also affected by today's data on Germany. According to today's publication of the survey results from GfK, it is expected that consumer confidence in Germany in September weakened. September consumer confidence index dropped to 8.6 compared to 8.9 in August. Experts predicted that the September index was 9.0. It was the first decline in the index since January of 2013. Nevertheless, the value is high enough, says the GfK.

Pressure on prices is weak demand for physical gold in Asia. In July, for the fifth time in a row there was a falling gold imports into China from Hong Kong, to 22.1 tons - the lowest level in more than three years. Analysts say the latest forecast of the World Gold Council, according to which the demand for gold in China this year will reach 900-1000 m, may be too optimistic.

Meanwhile, data showed that the world's largest asset holder of gold investment institutions ETFs SPDR Gold Trust at the end of the day on August 26 fell by 1.49 m and fell to the level of 795.60 m - the lowest figure since August 15 of this year.

From a technical point of view, today and in the coming days, the price of gold price dynamics are likely to be limited to the level of support $ 1,275.0 an ounce resistance level $ 1290.0 per ounce.

The cost of the October gold futures on the COMEX currently dropped to $ 1282.80 per ounce.