ICE Brent Crude Oil $110.63 +0.02 +0.02%

West Texas Intermediate crude rose to the highest level in four months on speculation that inventories in Cushing, Oklahoma, decreased last week and as cold weather boosted fuel demand.

Prices climbed as much as 1.3 percent. Supplies at Cushing, the delivery point for WTI futures, probably dropped for a third week, according to analysts surveyed by Bloomberg. A second storm in three days has brought more snow to the U.S. Northeast and mid-Atlantic, bolstering the use of distillate fuels, including heating oil and diesel.

WTI for March delivery increased $1.04, or 1 percent, to $101.34 a barrel at 10:39 a.m. on the New York Mercantile Exchange. Prices touched $101.62 a barrel, the highest level since Oct. 18. They have rallied 3.9 percent this month. The volume of all futures traded was 35 percent above the 100-day average. Floor trading was closed yesterday for the U.S. Presidents Day holiday.

Brent for April settlement rose 41 cents, or 0.4 percent, to $109.59 a barrel on the London-based ICE Futures Europe exchange. Volume was 44 percent below the 100-day average. The European benchmark grade was at a premium of $8.52 to WTI for the same month. The spread was $8.95 on Feb. 14, the widest in a week based on closing prices.

Gold prices keep rising and near the peak of 3.5 months due to the weak dollar and concerns over global economic growth .

Interest in gold , which is considered a low-risk investment of rose as investors saw that cold in the U.S. affect economic growth , and China's growth is slowing.

Surcharge 99.99 fine gold on the Shanghai Gold Exchange fell to $ 4 per ounce to the spot price in London , compared with $ 7 on Monday . According to the World Gold Council , the demand in the physical markets in China and India this year will be approximately 1,000 tons , and last year the world gold consumption decreased by 15 percent due to the outflow of funds backed by gold exchange-traded funds .

Indian Finance Minister said on Monday that he would think about the easing of restrictions on the import of gold , but do not allow to grow the country's current account deficit . Last year, India has imposed restrictions on gold imports to reduce the trade deficit .

Global gold demand in 2013 fell by 15 % to 3,756 tonnes compared with 2012 due to lower investment demand doubled and central banks purchases of precious metals on third. This is stated in the review of the World Gold Council (World Gold Council) - Gold Demand Trends.

In value terms, demand fell by 28% to 170.422 billion dollars, in particular by reducing the average gold price by 15% compared with 2012 to 1411 dollars per ounce.

The recent drop in gold prices has caused a significant increase in demand, especially from the largest consumers - India and China.

Demand for gold in China by the end of 2013 rose by 32% to 1.12 tons totaling 51.6 billion dollars. In India, the demand also increased by 13% to 975 tons for a total amount of 44.7 billion dollars.

Gold mining in the world in 2013 increased by 5% to 3 tons. Global supply decreased by 2% to 4.34 tonnes mainly due to lower secondary production by 14 % to 1.37 tons.

The cost of the April gold futures on the COMEX today rose to $ 1332.40 per ounce.