The cost of oil brand West Texas Intermediate rose to three-week high after a government report showed that U.S. inventories of distillates fell as demand rose.

Commercial crude oil inventories in the United States (excluding strategic reserves ) for the week ending January 17 , increased by 1 million barrels , or 0.3 % - to 351.2 million barrels , according to a weekly review of the country's Ministry of Energy .

Analysts believed that oil reserves will grow by only 588,000 barrels. Oil reserves increased for the first time since November.

While total gasoline inventories increased by 2.1 million barrels , or 0.9 %, to 235.3 million barrels . Distillate inventories decreased by 3.2 million barrels , or 2.6 % - to 120.7 million barrels .

The cost of oil is growing against the depreciation of the dollar after the publication of a series of statistical data from the United States .

The dollar index ( dollar to a basket of six currencies of countries - major trade partners of the U.S. ) fell by 0.74 % to 80.59 points.

Investors pay attention to data on the U.S. housing market . Number of home sales in the secondary market in December increased by 1 % compared to November - to 4.87 million. Data were worse than analysts' forecasts , which expect that the number of transactions amounts to 4.99 million.

March futures price for U.S. light crude oil WTI (Light Sweet Crude Oil) rose to $ 97.79 per barrel on the New York Mercantile Exchange (NYMEX).

March futures price for North Sea Brent crude oil mixture fell 42 cents , or 0.4 percent, to $ 107.85 a barrel on the London exchange ICE Futures Europe.

Gold prices rebounded from two-week low after reporting a slowdown in manufacturing activity in China and on the eve of the Fed meeting , at which the central bank may continue to reduce incentives.

Manufacturing activity in China slowed in January for the first time in six months , the index showed PMI, fell to 49.6 points from 50.5 points in December .

Stocks of the world's largest exchange-traded fund backed by gold (ETF) SPDR Gold Trust on Wednesday declined by 1.2 tons to 795.85 tons. Surcharge 99.99 fine gold on the Shanghai Gold Exchange holds near $ 12 per ounce.

Growth of gold comes amid weakening U.S. dollar. Recent data from the U.S. Labor Department showed that the number of applications for unemployment benefits rose slightly last week , although the overall level indicates a marked improvement in the labor market .

According to the report , the seasonally adjusted number of initial claims for unemployment benefits rose for the week ending January 18 , 1000 , reaching a level with 326 thousand Many experts expect that the number of applications will increase to 331 thousand to 326 thousand , of which initially reported last week. In addition, it was reported that the average number of applications for benefits over the past four weeks decreased by 3750 - to the level of 331,500 .

Cost February gold futures on the COMEX today rose to $ 1267.00 per ounce.

Gold $1,237.40 -1.20 -0.10%

Oil $96.77 +0.04 +0.04%