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Analytics, News, and Forecasts for CFD Markets: raw news — 13-08-2012.
Crude oil futures rose on fears that rising tensions in the Middle East will cause a failure in the supply of the region, which accounts for about one-third of world production.
Also, the increase in oil prices has affected the information that Israel plans to introduce a national system of text messages to alert the public of the dangers that can arise in an attack on Iran. At the same time, Iran has threatened to close the Strait of Hormuz, which is the jumping-off point for about 20% of oil in the world, since July 1 the European Union imposed sanctions on Iranian oil.
Today, oil prices rose to a level of $ 115 per barrel, which was the first time in over the last three months. Also, the price continues to influence the news that due to the slowdown in global economic activity has reduced the International Energy Agency forecast oil demand in 2013 to 400,000 barrels a day.
Tension also added a statement by Israeli Prime Minister Benjamin Netanyahu, who said that most of the threats to the security of Israel was dwarfed by the prospect that Iran could acquire nuclear weapons.
In connection with this situation, many analysts predict that the upward trend for oil will continue this week.
The cost of the September futures on U.S. light crude oil WTI (Light Sweet Crude Oil) on the NYMEX is now at $ 92.40 a barrel.
September futures price for North Sea Brent crude oil mixture is now $ 113.54 a barrel on the ICE Futures Europe Exchange.
Gold prices rose because of the probability arose that the European Central Bank may intervene and support the euro. It is also the cause of growth has been speculation as to what a weak global economic growth will cause further stimulus measures by central banks.
But, even though it is, precious metals traded in a narrow range, as the weak activity in the stock markets indicates a reduction of risk appetite among investors.
Recall that the price of the metal rose last week more than 1%, mainly on rumors that the ECB could take further steps such as buying bonds to support the single currency, which was severely hit by the debt crisis in the eurozone this year.
Also today, influenced the course of trading information, that Italy, as planned, successfully attracted eight billion euros, or 9.829 billion dollars, although at a slightly higher return. Investors remain cautious. Hedge funds and money managers have reduced their net long positions in U.S. gold futures and options this week on August 7, as in any doubt about an imminent monetary stimulus by the Fed and other central banks.
But, despite a slight increase during the session of the course gold has fallen sharply over the last few hours of trading, updating the minimum of the day.
The cost of the August gold futures on the COMEX today, high of 1623.7 dollars per ounce, and then declined and is now trading at around 1615.0 dollars per ounce.
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