Prices for Brent crude fell slightly, but held above $ 107 per barrel, which is associated with a sufficient supply in the market, while geopolitical issues in the Middle East, Africa and Ukraine. As for oil WTI, then its value has fallen more significantly.

"If there is no new problems with the production, world production in 2014 will grow by 1.8 million barrels per day, it is the fastest growth in a decade," - wrote in the report, analysts Morgan Stanley.

Iraq oil exports support nearly at record levels, as production in the southern fields has not suffered from bouts with Islamists in the north. Libyan capital Tripoli in chaos, but analysts say that the low production in the country has already been included in the quotations of oil. We also add that Israeli Prime Minister Benjamin Netanyahu warned of the possibility of prolonged conflict in Gaza, shattering the hope to end the conflict in the near future.

Pressure on prices also have expectations issue fresh weekly information on U.S. stockpiles of crude oil and refined products to gauge the strength of demand in the world's largest oil consumer. Later today, the American Petroleum Institute will release its report on stocks, while a government report, scheduled for Wednesday may show that oil stocks fell by 1 million barrels for the week ended July 25.

Investors were also cautious in anticipation of the announcement of the outcome of the Fed meeting. The central bank will probably priderzhetsya their schedules and reduce program of monthly purchases of bonds by $ 10 billion per month - up to $ 25 billion Meanwhile, preliminary data on U.S. economic growth in the second quarter, scheduled for Wednesday, and the employment report for July, which is scheduled Friday is expected to show that the economic recovery is stored.

The cost of the September futures on U.S. light crude oil WTI (Light Sweet Crude Oil) fell to $ 101.00 a barrel on the New York Mercantile Exchange (NYMEX).

September futures price for North Sea Brent crude oil mixture fell 18 cents to $ 107.32 a barrel on the London exchange ICE Futures Europe.