On the oil market prices since the beginning of the day added almost $ 2, but to a level of $ 70 per barrel, they never arrived. Positive movement in the quotations was associated with technical purchases futures, which also contributed to the decline of the dollar and the imminent resumption of business activity in the U.S. after a holiday on Monday. Note that the outcome of last week, oil markets subsided significantly as a result of liquidation of long positions by an average of 7,4%. Among other factors on the rise in prices also affected by positive sentiment bidders in Asia and Europe.

Today, Minister of Petroleum and Energy of 12 member countries of OPEC will meet in Vienna at the next conference to discuss the situation on the world oil market and the feasibility of changing the current quota of oil production. Due to the fact that the session was taking place during the holy month of Ramadan and the Muslim fasting, the leadership of the cartel decided not to invite as observers representatives of non-OPEC production, the opening of the conference will take place late at night, and consultations will be held in private under cover of night. Note that for most observers, who came to Vienna to cover the session of OPEC, the state of affairs is seen easy to understand, because in these conditions, participants in the oil cartel, are unlikely to reduce the quota of oil production for the sake of raising prices. As demand for oil remains very weak, it accumulated in the industrialized countries, substantial cash reserves of oil and petroleum products reduced the quota will not bring anything, but would reduce the return flow eftedollarov. Most likely, OPEC members will talk about a hard subject to set quotas, which last year had been reduced in total excluding Iraq by 4,2 million barrels per day to $ 24,8 million barrels per day. Now agreement on the cuts are performed at best 70-75%. Meanwhile, OPEC member countries are quite satisfied with the level of prices in the $ 70 per barrel, and keep them at this level cartel plans at the expense of global economic recovery, as the crisis. On the U.S. market trading closed yesterday, an increase of leading indexes against the backdrop of rising oil prices. This situation contributed to the growth of quotations of oil companies. As a result, bidding shares up to the world's largest oil company ExxonMobil went up by 2,1%, and the paper ConocoPhillips and Chevron added 2.3% and 2.2% respectively.

After the rise in prices for metal markets, when the price of an ounce of gold rose above $ 1 thousand for the first time in six months, and after rising copper prices rose and decent quotes mining companies. At the 3% in trading securities rose one of the largest in the world mededobyvayuschih company Freeport McMoRan Copper Gold, and quotes of the largest U.S. aluminum producer Alcoa added 3.5%. At 7.4% in trading shares have risen in price the producer of metals with special properties of Allegheny Technologies. Yesterday, at 4.5% increased paper a multi-industrial conglomerate General Electric, after JPMorgan raised recommendations on them with the level of neutral to a level above market. It is well completed and tenders for the manufacturer of popular hardware Apple amid expectations the first appearance of CEO Steve Jobs had undergone a liver transplant, in public, to be held today. Following the bidding price of securities of the company rose by 1,5%. Not a very positive trading ended for the world's largest insurance company American International Group, whose shares have fallen in price on the basis of trades by 10% after analysts from Credit Suisse lowered recommendations on them with a level of neutral to a level below the market. 6% cheaper shares of one of the world's largest food manufacturers Kraft Foods after the company's management announced its intention to make acquisitions of British confectionery giant Cadbury, despite her refusal.

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Forex on the European session
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The situation in Russia's trading floors remains positive - serious reasons for the correction no
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Commodity markets: Daily comment for 09/09/2009
The dynamics of price movements EUR /USD pair is limited to the range 1.4475 - 1.4525