Analytics, News, and Forecasts for CFD Markets: raw news — 18-07-2016.

Oil prices have fallen about 2 percent, as the increase in oil and gasoline has strengthened fears of another major oversupply.

Today, the company Genscape reported that oil reserves in the terminal Cushing, Oklahoma, rose by 26,460 barrels for the week ended July 15th.

Meanwhile, Morgan Stanley experts said they expected to a significant reduction in demand for oil from the refinery, which will eventually lead to an increase in reserves and will have a significant pressure on prices. Also Morgan Stanley noted that it is still expected a change in the balance of demand and supply of oil by mid-2017.

The attempted coup in Turkey hardly affected the market, as the Bosphorus in Istanbul, which handles about 3 percent of the world's oil supply mainly from the Black Sea and Caspian region, resumed its work after a short break.

Friday's data from Baker Hughes continue to influence, which showed that the number of drilling rigs in the US increased by 6 to 357, increasing the third consecutive week and the sixth week of the last seven. Renewed growth spawned rumors that the volume of oil production in the country could soon begin to grow, reinforcing fears of a oversupply of oil.

Meanwhile, Commodity Futures Trading Commission showed that funds reduced their bullish bets on Brent crude to the lowest level in four months.

The cost of the September futures on US light crude oil WTI fell to 45.80 dollars per barrel.

September futures price for Brent fell to 46.95 dollars a barrel on the London Stock Exchange ICE Futures Europe.

Gold prices fell slightly today, helped by renewed risk appetite. In addition, some investors opted to take profits after a sharp rise on Friday, which was caused by the news of the military coup attempt in Turkey.

On Sunday, the Turkish government announced the full restoration of control over the country and the economy after the failed military coup. Over the weekend, the government arrested some 6,000 military and judges, who are suspected of involvement in the coup.

"Gold has always received support during the political turmoil, however, the rise in prices does not last long and quotes will soon return to their former positions, which is what happened today. However, because of the events in Turkey, investors for a while forget about Brexit", - said, ActivTrades analyst Carlo De Kase. Recall, gold has risen in price for two weeks after the vote for Britain's withdrawal from the European Union.

Gold pressure also indicates the strengthening of the dollar.

Meanwhile, Commodity Futures Trading Commission showed that in the week to July 12, money managers and speculators reduced their bets on a record rise in prices for the first time in the last five weeks.

The cost of the August gold futures on the COMEX fell to $ 1330.0 per ounce.

This morning, New York crude oil futures WTI rose by 0.11% to $ 46.69 per barrel. At the same time, crude oil futures for Brent rose by + 0.27% to $ 47.74 per barrel. Thus, the black gold is up on the background of a weakening dollar and the situation after the military coup in Turkey. The key oil hub Bosphorus Strait, which accounts for about 3 percent of global supply, mainly from the Black and Caspian Seas, has been reopened to tankers on Saturday after a traffic stop for a few hours due to Friday's attempted military coup. The upbeat economic data from the US and China - the world's biggest economies, published on Friday, also supported the prices.