Oil rose for the first three days since the strike threatened to stop production in Norway, which is the largest exporter of Western Europe.

Futures at 1.4%, as there was likely to disable all the Norwegian offshore platforms for oil and gas, where unions and employers can not solve all of your questions. Also on the rise in prices has affected the information that Iran had conducted military exercises last week and threatened to block the movement of tankers in the Strait of Hormuz in response to the European embargo on oil.

Negotiations between the Norwegian Oil Industry Association, which represents employers, including Statoil ASA (STL) and Exxon Mobil Corp (XOM), ended in failure yesterday. Recall that a Norwegian oil platform produced about 2040000 barrels of oil per day in 2011, representing 2.4% of total world production.

Iranian lawmakers are considering a bill to impose tariffs on ships passing through the Strait of Hormuz, which is a transit point for about 20%. The European Union said that the embargo on Iranian oil came into force on 1 July.

Deputy Prime Minister of Iraq on energy issues, said in his speech that the recent slide in oil prices is unfounded and is caused by extraction of more oil than the market needs.

Oil also rose amid increasing fears of Spain, since the debt crisis in Europe will limit its economic growth and restrain demand for fuel.

The August futures on U.S. light crude oil WTI (Light Sweet Crude Oil) on the NYMEX has grown and now stands at $ 85.48 a barrel.

August futures price for North Sea petroleum mix of mark Brent rose $ 1.10 to $ 99.40 a barrel on the ICE Futures Europe Exchange.

Gold traded near a two-week low, which was caused by good inflation data from China and a slight depreciation of the dollar, because there is still uncertainty about interest rates in the United States. Economists polled by Reuters said that there is a 70% probability that the Fed will begin to conduct another round of quantitative easing, or buying government bonds to lower borrowing costs. Gold has lost about 1% last week under the pressure of constant weakness of the euro against the backdrop of the continuing debt crisis.

Gold rose after the Chinese data showed that inflation expectations have increased in July, signaling the prospects of the response by the central bank to prevent a recession.

Last week, the People's Bank of China unexpectedly lowered the benchmark interest rate, which was the second month, thus creating more favorable conditions for investments in gold.

Data from the Commodity Futures Trading Commission last week showed that speculators reduced their stocks of gold futures on the largest number in the last three months.

August gold futures on the COMEX today has grown today to 1589.9 dollars per ounce.

Resistance 3:1620/24 (line of resistance from Jun 6, Jul 3 and 5 highs)

The resistance of 2:1610 (area of Jul 6 high)

The resistance of 1:1592 (MA (200) for H1)

Current Price: 1587.00

Support 1:1576 (session low)

Support 2: 1558 (resistance line from May 16)

Support 3: 1548 (low of June)

Resistance 3:91,60 / 90 (50.0% FIBO $106 - $77, Jun 29 high)

Resistance 2:88,70 (Jul 5 high)

Resistance 1:85,30 (session high)

Current Price: 85.01

Support 1:83,70 (session low, Jul 6 low, MA (200) for H1)

Support 2:81,80 (Jul 2 low)

Support 3:77,20 (low of June)