Oil still at the bottom while Gold goes up slowly

Oil prices fell on Thursday afternoon. Around 11:15 a.m., the future, which is considered an important oil price benchmark, traded on the North Sea oil grade Brent in London at $ 39.39 a barrel (159 liters). Compared to Wednesday’s closing price of $ 39.79, that’s a minus of 1.01 percent. Oil prices are suffering from the dispute between important producing countries. The OPEC + network is currently concerned with whether and for how long the existing funding restrictions should be extended. According to reports by the Bloomberg news agency, Russia and Saudi Arabia want to extend the current restrictions by one month.” There are also concerns on the demand side,” write analysts.

 

Oil fell low

According to the U.S. Department of Energy, crude oil inventories in the US fell surprisingly by 2.1 million barrels last week, but distillate inventories rose by almost 10 million barrels at the same time and are now only at 174.3 million barrels Percent below the record high of September 2010.The gold price was little changed. In London’s gold trade, the troy ounce (31.10 grams) was trading at $ 1,706.14 (after $ 1,700.52 on Wednesday) at around 11:15 a.m. “As long as the rally on the stock markets continues, gold should be less in demand,” write gold experts.