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Analytics, News, and Forecasts for CFD Markets: raw news — 29-07-2014.
Prices for Brent crude fell slightly, but held above $ 107 per barrel, which is associated with a sufficient supply in the market, while geopolitical issues in the Middle East, Africa and Ukraine. As for oil WTI, then its value has fallen more significantly.
"If there is no new problems with the production, world production in 2014 will grow by 1.8 million barrels per day, it is the fastest growth in a decade," - wrote in the report, analysts Morgan Stanley.
Iraq oil exports support nearly at record levels, as production in the southern fields has not suffered from bouts with Islamists in the north. Libyan capital Tripoli in chaos, but analysts say that the low production in the country has already been included in the quotations of oil. We also add that Israeli Prime Minister Benjamin Netanyahu warned of the possibility of prolonged conflict in Gaza, shattering the hope to end the conflict in the near future.
Pressure on prices also have expectations issue fresh weekly information on U.S. stockpiles of crude oil and refined products to gauge the strength of demand in the world's largest oil consumer. Later today, the American Petroleum Institute will release its report on stocks, while a government report, scheduled for Wednesday may show that oil stocks fell by 1 million barrels for the week ended July 25.
Investors were also cautious in anticipation of the announcement of the outcome of the Fed meeting. The central bank will probably priderzhetsya their schedules and reduce program of monthly purchases of bonds by $ 10 billion per month - up to $ 25 billion Meanwhile, preliminary data on U.S. economic growth in the second quarter, scheduled for Wednesday, and the employment report for July, which is scheduled Friday is expected to show that the economic recovery is stored.
The cost of the September futures on U.S. light crude oil WTI (Light Sweet Crude Oil) fell to $ 101.00 a barrel on the New York Mercantile Exchange (NYMEX).
September futures price for North Sea Brent crude oil mixture fell 18 cents to $ 107.32 a barrel on the London exchange ICE Futures Europe.
Gold prices fell markedly today, due to the uncertainty before a meeting of the Federal Reserve System and the output of key U.S. data this week.
Today starts a two-day meeting of the Fed, the results of which will be announced tomorrow. It is expected that the Fed will keep rates folding third round of quantitative easing (QE3) and reduce its volume by another $ 10 billion to $ 25 billion this is likely the purchase of assets to a halt in October. However, the main debate between FOMC members deployed around the timing of rising interest rates, experts say. Most managers tend to delay the Fed first rate hike as long as they do not have confidence in the stabilization of the country's economic recovery. Many analysts believe that rates will remain at near zero level until at least mid 2015.
"The gold market will remain in the range up to the Fed meeting and economic reports this week. Prices will stay at around $ 1,300, because geopolitical tensions gives strong support to the market ", - said the director of Intelligence Wing Fung Financial Group That Mark.
It is also worth noting that today the EU Council in Permanent Session to 28 countries previously agreed community today at a meeting in Brussels on economic sanctions against Russia, which will affect the financial, defense and energy industry.
Meanwhile, Israeli Prime Minister Benjamin Netanyahu warned of the possibility of prolonged conflict in Gaza, shattering the hope to end the conflict in the near future.
On the physical gold market situation has not changed: buyers are still waiting for lower prices and margins in China are stable at $ 03.02 per ounce.
The course of trade also affected previously submitted data for the U.S., which showed that consumer confidence index from the Conference Board rose in July to 90.9 (1985 = 100), compared with 86.4 in June. The current conditions index rose to 88.3 from 86.3, while the expectations index rose to 92.7 from 86.4 in June.
The cost of the August gold futures on the COMEX today fell by $ 6.2 - to $ 1297.20 per ounce.
(raw materials / closing price /% change)
Light Crude 101.51-0.16%
Gold 1,304.40 +0.08%
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