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Analytics, News, and Forecasts for CFD Markets: raw news — 08-08-2012.
As shown by the data of the government report, the demand for oil as a fuel for the first time has fallen over the past four weeks.
Department of Energy said today that the total demand for products fell by 1.1% to 18.9 million barrels a day in the week ended August 3, showing the first decline in this for the week ending July 6.
The report also stated that the level of stocks decreased by 3730000 barrels to the level of 369.9 million barrels for seven days (August 3). According to the average forecast from analysts, it was expected that the reduction will be only 1550000 barrels
Also on the rise in prices have affected published data on changes in the level of labor productivity in the nonfarm U.S. economy, which showed that labor productivity in the second quarter rose more than expected.
At the same time, the increase in oil prices was caused by fears that the tensions in the Middle East could cause a failure in supply.
The cost of the September futures on U.S. light crude oil WTI (Light Sweet Crude Oil) on the NYMEX rose to a high of $ 94.24 per barrel.
September futures price for North Sea Brent crude oil mixture increased to $ 112.86 a barrel on the ICE Futures Europe Exchange.
Gold prices fell slightly today, after significant growth over the past three days amid expectations that the central banks of Europe and the United States will start from a set of incentives to help strengthen their economic condition.
The debt crisis is increasingly threatening the economy as a unit, and may encourage the ECB to start a new round of its program to buy bonds in the near future. This will lead to the fact that gold will act as a hedge against inflation.
Also, the price of gold has influenced the information that the rating agency Standard & Poor's revised its outlook on Greece, stating that you may need further assistance from international lenders.
But despite the decline during the first half of the day, gold prices could recover from, updating the intraday high. At this growth influenced the weak data on industrial production in Germany, which were far below expectations.
The cost of the August gold futures on the COMEX today declined to 1603 dollars per ounce, then rose and is now trading at around 1612 dollars per ounce.
Change % Change Last
Oil $93.50 -0.17 -0.18%
Gold $1,614.60 +1.80 +0.11%
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