Prices for WTI crude oil rose slightly, while the price of Brent crude oil fell moderately, due to the escalation in Iraq and concerns about possible violations of oil exports from the second largest producer in OPEC.

Iraq conflict, according to analysts, creates the risk of another spike in oil prices. The goal now is to create a rebel Islamic state on the border with Syria, where there is significant oil reserves. So far it can go only about the risk of missed deadlines shipment. However, the escalation of violence in the country in case of conflict from spreading further south could endanger oil supplies. A similar situation exists in the countries of the Organization for difficult - while oil exporters, which are struggling to keep the rate of production of 30 million barrels per day due to a significant reduction in production in Libya. Iraq ranks second in terms of production by OPEC, is actually on the verge of civil war, increasing the geopolitical premium in oil prices. Iraqi factor does not look short-term phenomenon, but rather is designed for long-term, analysts say.

According to the International Energy Agency, OPEC will have to raise daily production by one million barrels in the second half to balance the oil market, which is expected seasonal increase in demand.

Meanwhile, we add that the data showed that U.S. oil production have increased to record levels in 44 years. Note that production fell almost four decades. In fact, to change the situation, it only took five years. According to the averaged data in America last month produced 11.27 million barrels of oil and condensate per day. Figure is close to the average production in 1970 of 11.3 million barrels, which was the maximum for the United States. Statistics last seven days, says that the present results have surpassed the previous record.

Cost of the August futures on U.S. light crude oil WTI (Light Sweet Crude Oil) rose to $ 106.30 per barrel on the New York Mercantile Exchange (NYMEX).

August futures price for North Sea Brent crude oil mixture fell $ 0.45 to $ 113.00 a barrel on the London exchange ICE Futures Europe.

Gold prices fell sharply, while retreating from three-week highs reached earlier, that was due to the weakening of the U.S. currency.

It is worth noting that the markets continue to monitor developments in Iraq, where militants linked to al-Qaeda, threatened to seize Baghdad after the capture key cities in other parts of the country over the weekend.

Investors were also cautious in anticipation of the outcome of the upcoming policy meeting of the Federal Reserve System, scheduled for Wednesday, searching for fresh hints as possible increase in interest rates.

On the dynamics of trade also affected U.S. data. The survey revealed that the Fed-New York manufacturing index in the region rose slightly in June compared with the previous month. According to the data, the manufacturing index in June rose to 19.3 against 19.0 in May. Note that the previous value has not been revised. Economists had forecast a drop in the index to the level of 15.2 points.

Meanwhile, another report showed: industrial production rose a seasonally adjusted 0.6% from April. Capacity utilization rate, closely watched gauge of efficiency in the economy, increased by 0.2 percentage points to 79.1% in May. Economists had expected industrial production to rise by 0.6% in May and capacity utilization will rise to 78.9%.

Increased production in the last month replaced drop by 0.3% in April compared with the previous month - a smaller drop than originally voiced reduction of 0.6%.

Growth in May, reflecting an increase of 0.6% in the production of the manufacturer and an increase of 1.3% in the mining sector, which was partially offset by a decrease in production in the municipal sector by 0.8%. Total industrial production in May rose 4.3% compared with a year earlier.

The cost of the August gold futures on the COMEX today dropped to $ 1275.8 per ounce.

Gold $1,274.70 +1.70 +0.13%

ICE Brent Crude Oil $112.46 -0.56 -0.50%

NYMEX Crude Oil $106.77 -0.09 -0.08%