Oil prices rose slightly today, rising above $ 106 a barrel, as the confrontation between the U.S. and Syria have increased significantly, which may help reduce oil production in the Middle East region. But concerns about the stocks and uncertainty about global demand partially offset these concerns.

Add that many investors are waiting to see the new president of Iran can still resolve the dispute with the U.S. over Tehran's nuclear ambitions, which contributed to the introduction of Western sanctions, and reduced oil exports.

Experts point out that the movement of the oil market is currently based mainly on the geopolitical factors. They also added that the U.S. decision to supply arms to rebels in Syria threatens to completely transform the civil war in Syria into a war between the world powers, given the fact that Russia is providing military support to the Assad regime. Add that to the meeting, G8, is expected to Syria will be a key topic of conversation between U.S. President Barack Obama and Russian President Vladimir Putin, as both countries seek to find common ground to ensure the termination of the two-year civil war.

It is also worth noting that many investors are cautious on the eve of the meeting of the Federal Reserve System, which will begin tomorrow. Analysts believe that Ben Bernanke may give more clarity about how and when the central bank will reduce the amount of their incentive programs.

The cost of the July futures on U.S. light crude oil WTI (Light Sweet Crude Oil) rose to 97.97 dollars a barrel on the New York Mercantile Exchange.

July futures price for North Sea Brent crude oil mixture rose 21 cents to $ 106.05 a barrel on the London exchange ICE Futures Europe.

Gold prices fell today, which was due to the strengthening of the dollar, and investors' expectations of the Fed meeting, which is scheduled for this week. Add that many market participants are looking for clues regarding minimizing the Fed's economic stimulus program, known as quantitative easing (QE). It should be noted that any weakening of the bond-buying program, which raises the prospect of a future tightening of course, is seen as a negative factor for gold.

Recall that the market sentiment changed markedly, after Federal Reserve Chairman Ben Bernanke said last month that the Fed may roll their stimulus measures, while other Fed officials have since presented conflicting signals. Most economists expect the Fed can reduce the size of the purchase of bonds by the end of the year, and a smaller part of the decision is expected in September.

We add that a further decline in gold prices today prevented some purchases in China, which is the second-largest gold consumer after India. However, demand in Asia is far from the peak levels seen after the mid-April during sales of gold. In addition, we note that Indian gold purchases fell, after earlier this month the government introduced import duty, trying to narrow the current account deficit by reducing imports of gold.

In addition, the data presented today showed that gold mining in Australia, which is number two after China, fell by 5% in the first quarter, reaching a level of 63.5 tons.

The cost of the August gold futures on COMEX today dropped to 1383.00 dollars per ounce.