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Analytics, News, and Forecasts for CFD Markets: raw news — 13-09-2013.
Oil prices declined moderately today , closer to $ 112 per barrel (Brent) and $ 108 (WTI), after the foreign ministers of the United States and Russia have agreed that it is worth the effort to end the civil war in Syria. Note that the settlement of the question for the elimination of chemical weapons just raised hopes for a more meaningful negotiations .
Expectations of an imminent U.S. attack on Syria helped overcome Brent crude above $ 117 at the end of August, as investors were concerned that the conflict may cause a decrease in the volume of production in the Middle East region , which holds about one third of the world 's oil reserves. But this tension eased somewhat over the past few days , as U.S. Secretary of State , John Kerry, and Russian Foreign Minister Sergey Lavrov is trying to resolve the prevailing conflict in a peaceful way, namely to remove chemical weapons in Syria.
Although world oil markets remain under stress , and the amount of Libyan exports decreased more than 1 million barrels per day due to civil unrest and strikes, investors expect supply growth already in the next few months.
Meanwhile , we add that a partial influence on the bidding had U.S. data . As it became known, retail sales rose by a seasonally adjusted 0.2 % in August compared with the previous month , showing a smaller increase than the 0.5 % growth forecast of economists and the smallest increase since April.
Most of the increase was due to a surge in car sales, which tend to be unstable and to recover from the recession, while households have made a long-awaited purchase of new cars
Excluding autos, retail sales rose by only 0.1 %, which is a sign of weakness for the broader discretionary spending .
At the same time, the report contains some positive points : sales in July were stronger than previously thought , and showed an increase of 0.4 % compared to the initial 0.2 %.
Consumers account for over two-thirds of demand in the U.S. economy , and they have been the main driving force behind the recovery that remains weak by historical standards .
The cost of the October futures on U.S. light crude oil WTI (Light Sweet Crude Oil) fell to $ 107.93 a barrel on the New York Mercantile Exchange.
October futures price for North Sea Brent crude oil mixture rose $ 0.89 to $ 112.07 a barrel on the London exchange ICE Futures Europe.
Gold prices fell markedly today , reaching a five-week low at the same time , and lead to the largest weekly decline ha last two months, the prospects that the United States will reduce the amount of stimulus measures in the near future . Also on the bidding influences decrease fears of a military operation against Syria. However, after the price of gold rose slightly , departing from the minimum values , but in spite of this, is still trading lower.
U.S. and Russia have begun talks on Thursday , trying to flesh out a plan for the disposition of Moscow mimic weapons Syria.
Meanwhile, today it was reported that Syria has become a full member of the International Convention on the Prohibition of Chemical Weapons . This was stated by the authorized representative to the UN, Bashar Jaafar . The move , he said , was made pursuant to an agreement that would allow to avoid being hit on Syria by the United States .
However, several UN functionaries told the press on condition of anonymity that can not yet be definitely state that Syria has fulfilled all the conditions for accession to the convention. According to the official representative of the United Nations , the Syrian application for accession to the Convention is " pending ."
According to Jaafari , the Syrian chemical weapons were part of a system of deterrence against Israel. "Despite the fact that the weapons of deterrence , it is time to join the international agreement. This is a gesture that demonstrates our commitment to ban all weapons of mass destruction ," - said the Syrian diplomat . Recall that Syria was one of the seven countries that have not acceded in 1997 to the Convention on the Prohibition of Chemical Weapons , which requires all participants to eliminate stocks of chemical warfare agents .
Earlier, the UN said yesterday that they had received a request Syria to join the Convention on the prohibition of chemical weapons .
In addition, we add that many market participants are waiting for the meeting FOMC, which will take place next week, and will be able to shed light on the future program of quantitative easing. It is expected that the U.S. Federal Reserve may announce a reduction of monthly purchases of bonds at the end of its two-day meeting on September 18.
The cost of the October gold futures on COMEX today dropped to $ 1316.30 per ounce.
GOLD 1,322.40 -41.10 -3.01%
OIL (WTI) 108.64 1.08 1.00%
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