Oil rose for the first time in four days on fears that Tropical Storm Isaac will reduce oil production in the Gulf of Mexico and on speculation that U.S. inventories fell to a five-month low.

Futures rose 1.1% after the Bureau of Safety and Environmental Control reported yesterday that about 78% of oil production platforms were closed due to the approaching storm.

Analysts predict that oil is likely to fall by 1.75 million barrels last week, before the publication of the official report tomorrow. If the findings are confirmed, it will be the longest decline since July 2011 and the lowest level since March 23.

It is expected that gasoline inventories fell by 1.45 million barrels, while distillate fuel stockpiles probably rose by 200,000 barrels.

U.S. President Barack Obama said at the White House that the Federal Emergency Management Agency has been in the Gulf of Mexico for a week, and always will be to provide new information regarding the storm Isaac.

October futures price of U.S. light crude oil WTI (Light Sweet Crude Oil) on the NYMEX is now $ 95.85 per barrel.

October futures price of North Sea Brent crude oil mix is ​​now $ 112.15 a barrel on the ICE Futures Europe Exchange.

Gold prices stabilized near its four-month high ahead of a meeting of heads of central banks over the weekend, which is likely to point to the likely course of U.S. monetary policy.

Gold has added 3.1% in August and is on track for its largest monthly increase since January.

Recall that central bankers and finance ministers from around the world to meet in Jackson Hole on August 31 and September 1. Investors expect hints from Fed Chairman Ben Bernanke at the next round of quantitative easing.

Despite the uncertainty, which last week celebrated in the market, investors are gradually increasing their "gold" assets. Also worth noting is that on Friday, stocks gold ETFs reached a record 71.53 million ounces.

The rising cost of precious metals also contributed to concerns about supplies from South Africa, which is the fifth-largest producer of the metal.

The South African Chamber of Mines said on Monday that mining companies affected by demands for higher pay, but the industry will not be able to do this, since the current collective agreement will not expire before June 2013.

The cost of the August gold futures on the COMEX is now 1665.2 dollars per ounce.

Change % Change Last

Oil $95.66 +0.19 +0.20%