(raw materials / closing price /% change)

Light Crude 80.68 -0.40%

Gold 1,225.70 -0.29%

Oil prices have dropped significantly today, while reaching its lowest level in nearly 28 months after analysts Goldman Sachs Group Inc. downgraded the outlook on prices for 2015, citing the growth of the world's supply.

According to new estimates from Goldman Sachs, in the first quarter of 2015. Brent crude oil will cost $ 85 per barrel (previously expected $ 100 per barrel) and WTI - $ 75 per barrel from $ 90 previously.

The experts believe that OPEC will lose its position of producer, able to influence the dynamics of oil prices, and this position will take the US to increase the production of shale oil. "Our forecasts oil prices reflect, including expectations and the loss of key OPEC ability to affect the pricing in the market," - said in a statement.

It is worth emphasizing, Goldman Sachs forecast the most pessimistic of all US financial institutions made ​​in recent concerns about the pace of growth and excess supply. Forecast Goldman goes against estimates Standard Chartered Bank, which analysts have estimated that a barrel of Brent in 2015 will cost $ 105

Add that concern about the weakening global demand, as well as signs that the Organization of Petroleum Exporting Countries will not cut production to support oil quotations, also exert pressure in recent weeks. Oil production in the OPEC reached in September two-year high of 31 million barrels per day, due to the increase in production in Iraq and Libya. Some market analysts believe that only a reduction in the volume of production in the oil cartel will be able to stop the decline in prices.

Market participants are waiting for a meeting of oil ministers of the OPEC countries, scheduled for November 27, during which intend to consider the advisability of adjusting the current production at the level of 30 mln. Barrels per day at the beginning of 2015.

Today, as it became known that Iran plans to increase oil production. This was stated by Deputy Oil Minister of Iran Mansour Moazzam. The Islamic Republic plans to increase refining capacity from the current 1.8 million barrels per day to 3 million barrels. According to OPEC daily oil production in Iran in September was 2.675 million barrels. According to the calculations of Iranian experts, Iran's oil reserves will last for 60 years.

The cost of the November futures for US light crude oil WTI (Light Sweet Crude Oil) fell to $ 80.61 a barrel on the New York Mercantile Exchange (NYMEX).

December futures price for North Sea petroleum mix of mark Brent fell $ 0.42 to $ 85.71 a barrel on the London exchange ICE Futures Europe.

Gold prices fell slightly today, due to the expectations of the Fed meeting, scheduled for this week. According to experts, the central bank said the continuation of folding bond purchase program, and such a decision is likely to have an upward pressure on the dollar, which again weaken the demand for gold as a safe haven. Investors are also closely examine the Fed statement to find in it further hints on the timing of interest rate increases. Recall, rising interest rates generally negative for gold, as it increases the relative cost containment metal.

Little impact on the bidding had stress test results of the largest banks in Europe have shown that the majority of the region's leading lenders have enough capital to survive another financial crisis. On Sunday, the ECB announced the results of tests of 150 banks. In all, 25 banks had discovered the lack of capital, but most of them have already taken action. A total of 13 banks still need to save $ 9.5 billion. Euro debt capital.

The value of precious metals also affect the data on the US housing market. As it became known, the number of pending home sales rose slightly in September and is now higher compared to the same period of the previous year for the first time in 11 months. The index of pending home sales (PHSI) - forecast indicator based on signed contracts - rose slightly by 0.3 percent to 105.0 in September from 104.7 in August, and is now 1.0 per cent higher than in September 2013 (104.0). The index is above 100 for the fifth month in a row, and is the second highest level since last September.

Also today it was announced that the world's largest reserves of the Fund ETF SPDR Gold Trust fell on Friday to 4.5 tonnes - up to 745.39 tons, reaching a six-year low. According to the results of last week, stocks fell by 15.5 tons, fixing the maximum weekly drop since July last year.

The cost of December gold futures on the COMEX today dropped to 1228.80 dollars per ounce.