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- 26.03.2015 - The deteriorating situation in Yemen has led to a strong increase in oil prices
26.03.2015 - The deteriorating situation in Yemen has led to a strong increase in oil prices
The price of gold continued to rise, which started in connection with a reduction in the probability of raising interest rates in June, the Fed and the weakening of the US dollar. Today, a sharp rise in quotations was caused by the news of airstrikes of Saudi Arabia’s forces in Yemen. Further dynamics of the gold price will depend on the outcome of the negotiations on Greek debt restructuring, as well as tomorrow's publication of the final statistics on the growth of US GDP in Q4 2014. Demand from Chinese consumers remains elevated. We recommend opening long position and keep a positive medium-term outlook for gold.
The price of Light Sweet crude oil has shown steady growth against the background of airstrikes of armed forces of Saudi Arabia on the positions of anti-government forces in Yemen. It is worth noting that the tense situation in the country is a risk to oil supplies through the Bab-el-Mandeb strait, through which passes oil supplies. Statistics on oil inventories in the US showed another increase by 8.2 million barrels compared with an expected increase of 5.0 million barrels. At the same time, gasoline inventories decreased by 2 million barrels to their lowest level this year. Our medium-term outlook for oil remains negative, but we recommend you wait for a signal to open a short position.