30.12.2015 - Oil traders are waiting for data on oil reserves in the US

The price of gold continues to consolidate above the level of 1065 dollars per troy ounce. The pressure on quotations of the metal still have a strengthening US dollar, weak investment demand and growth in the US equity markets. On the other hand, the correction in the US markets will lead to increased demand for defensive assets, which, together with increased demand for gold in China will support quotes in January. Our medium-term outlook remains negative due to the tightening of monetary policy of the Fed.

The price of Light Sweet crude oil yesterday corrected upwards, but could not continue to grow ahead of today's publication of official statistics on oil inventories in the US (15:30 GMT). It is worth noting that the previous publication of a report on oil inventories in the United States showed their decline and has led to an increase in oil prices. OPEC estimated the excess of oil supply on the market of 2 million barrels per day and is expected in January lifting of sanctions against Iran will increase the imbalance by 1 million barrels for three months after the lifting of sanctions. Our medium-term negative outlook remains unchanged.

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