Oil prices fall despite falling US inventories


Within Asian trading today Wednesday the prices of Crude Oil have backed down and that after prices decreasing to the lowest level in one week during yesterday trading, although the decreasing of American reserves of Crude Oil.
The term contracts of American raw petrol trading right now in 52.28 level USD for barrel after it record the highest level in 52.40 level USD for barrel while it opened today’s session in 52.32 level USD for barrel and its record lowest level in 52.25 USD for barrel
 
The report of American petrol academy which has issued at the end of today’s session observe decreasing in American reserves of Crude Oil within last week by 840 thousand barrels from the expectation that says barrels will decrease by 1.47 million.
 
The decreasing shrinkage of American reserves proved that production levels in increases, especially that reserves level stable near it highest levels ever and that causes more negative pressure on prices.
 
We have to mention that Crude Oil is recording three weeks of gains and that what increases the negative corrects from the beginning of the week.
A slight backing down in gold prices with continues of vibrating this week.
Gold has declined in a limited range due to corrections
 
Within today Wednesday, trading gold prices slightly back down with controlling of Rare metal vibrate from the beginning of the week after it records the highest level in five months, this backing down comes with Limited recovery in USD levels.
 
Gold prices trading right now in 1286.7 level USD for ounce after it record the lowest level in 1286.0 USD for ounce and it opened today’s session in 1289.0 level USD for ounce recording the highest level in 1289.1 USD for ounce
 
Gold prices had back down after a limited increase in USD levels against main currencies after it records the lowest level in two weeks, and an addition of the shrinking of tensions effects caused by north Korea in markets.
 
On the other hand, the attention continued in watching Europe conditions with France about president selection with continued of extremist right candidate competition, addition to early announcement about  support selection of the Prime Minister of Britain