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MORNING REPORT: OIL GOES UP, GOLD CHEAPER

Oil rose for a second day after oil inventories in the US fell amid that Iraq joined the other members of OPEC to maintain supply. West Intermediate futures rose more than 1% before tomorrow’s important US data. Iraq plans to increase production to 4 million barrels per day prezsledvashtata year after OPEC refused to limit production. According to some market analysts, oil could fall to $ 20 a barrel, while Saudi Arabia has nothing against it. “Saudi Arabia will continue to yield quantities of oil in the current size, even if the price should fall to $ 20 a barrel,” said oil minister of Saudi Arabia Ali Al-Naimi.WTI for the February delivery rose 57 cents to $ 55.83 a barrel . Brent for the February delivery, you also rose 32 cents, or 0.5 percent to $ 60.43 a barrel.

Gold fell close to 3-year low as investors assess the outlook for inflation slowdown, stimulated by rising oil prices. Bullion for immediate delivery traded at a price of 1 176.44 yesterday, which is the lowest price on 1 December, when oil rose last with 3.3% for the February delivery gold fell 0.1% to 1 170.70 Silver for immediate delivery rose 0.2 % to 15.70 an ounce, after falling by 2.5% vchara. Spot platinum also rose by 0.3% to 1 1785.75. Palladium traded at a price of $ 811 to 810.90 yesterday.

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