Cost of oil futures fell slightly after much growth in the previous session amid growing geopolitical concerns after the collapse of the liner in Ukraine and another round of U.S. sanctions against Russia.

Crash Malaysian Airlines passenger plane is the main theme of the day, and market participants are wondering whether it will contribute to increased tensions in Ukraine, which in a few months raging pro-Russian riots

Recall last night in eastern Ukraine crashed airliner Malaysian airlines. Killing all 298 people on board, resulting in a conflict between Kiev and pro-Moscow insurgents, in which Russia and the West are at opposite sides has increased sharply. The crash happened on the next day after the United States and the European Union announced a new package of sanctions against Russia after the annexation of the Crimea in April and continuing tension in the rest of Ukraine. U.S. sanctions have become the biggest at the moment.

Markets also continue to monitor developments in the Middle East after Israel on Thursday night announced the start of the ground campaign in Gaza after 10 days of air and naval bombardment failed to stop Palestinian rocket fire. We also add that Libya has raised oil production to 555,000 barrels per day, but the port of Brega is still not working because of the strike guards. Libya asked the UN Security Council to help her in the protection of oilfield facilities, oil ports and civil airports.

"Oil prices are expected to continue their upward trend due to the increasing volatility in the oil market after the uncertainty in the Middle East and rising tensions between Ukraine, Russia and the West," said analyst Myrto Juice from Sucden Financial Research Sucden in London.

Cost of the August futures on U.S. light crude oil WTI (Light Sweet Crude Oil) fell to $ 103.21 a barrel on the New York Mercantile Exchange (NYMEX).

August futures price for North Sea Brent crude oil mixture fell $ 0.45 to $ 108.00 a barrel on the London exchange ICE Futures Europe.

Gold prices fell sharply today, losing 1 percent, due to profit-taking after yesterday's 1.5 percent growth, but the reluctance to invest in risky assets after the crash in Ukraine support the market.

It should be noted that since the beginning of the week quotes fell nearly 2 percent after a six-week recovery by reducing concerns about Portugal's largest bank and the possibility of an early increase in interest rates the Fed. Prices rose sharply yesterday after reports of falling passenger airliner in the east of Ukraine, which was probably shot down by pro-Russian separatists. The crash happened on the next day after the United States and the European Union announced a new package of sanctions against Russia after the annexation of the Crimea in April and continuing tension in the rest of Ukraine. U.S. sanctions have become the biggest at the moment.

"Geopolitical risks are now elevated. This justifies the rise in gold prices, and in the near future, this growth is sure to continue, "- said an analyst at ANZ Victor Tyanpiriya.

Falling prices is constrained by the news from Israel, which yesterday announced the start of the ground campaign in Gaza after 10 days of air and naval bombardment failed to stop Palestinian rocket fire.

Negative dynamics of gold futures today additionally due to the weakening of investment demand for gold bullion. The assets of the world's largest holder of gold investment institutions ETFs SPDR Gold Trust declined yesterday by 2.69 m - up to 803.34 m (the lowest since July 11, 2014).

The cost of the August gold futures on the COMEX today dropped to $ 1307.20 per ounce.

(raw materials / closing price /% change)

Light Crude 103.82 +0.61%

Gold 1,322.70 +0.44%