The cost of oil futures fell slightly , dropping at the same time below $ 108 per barrel as geopolitical tensions eased , and new evidence of increases in oil supplies from Libya and Iraq. Recall that the price of Brent crude reached in August high above $ 117 a barrel on fears of war in Syria that could lead to a decrease in oil supplies from the Middle East, but , after a compromise was reached with regard to chemical weapons , the chances of war intervention by the United States decreased significantly . We add that the signs of a possible reconciliation between Iran and the West also fell geopolitical tensions and raised the chances of an increase in sales of Iranian oil after years of sanctions , which reduced oil exports by more than 1 million barrels per day.

"Oil prices continued a downward trend," said Carsten Fritsch , senior commodity and oil analyst at Commerzbank. "The decline in the risk premium and the increase in oil production suggest that further fall in prices is inevitable."

It should be noted that Iran has agreed to talks on its nuclear program with senior diplomats from six world powers, including U.S. Secretary of State John Kerry , raising hopes that Tehran's relations with the United States can improve. U.S. officials have also said that there is a possibility of this week's meeting between President Barack Obama and the new president of Iran Hassan Rouhani .

Meanwhile, data released today showed that the volume of production in Nigeria, Africa's biggest oil producer , rose to 2.4 million barrels a day after the country has been able to restore the capacity of victims of vandalism . Production in Nigeria declined to 2.2 million barrels per day.

Additional pressure on the stock have been reports of increasing oil production in Texas. According to the Energy Information Administration U.S. Department of Energy , the volume of production in Texas in June reached 2.58 million barrels of oil a day - the highest since May 1981 . This was achieved thanks to increased supply from the field Eagle Ford.

The cost of the November futures on U.S. light crude oil WTI (Light Sweet Crude Oil) fell to $ 102.85 a barrel on the New York Mercantile Exchange.

November futures price for North Sea Brent crude oil mixture fell $0.10 to $ 107.86 a barrel on the London exchange ICE Futures Europe.

Gold prices declined moderately today , registering with the decline in the fourth session in a row, which was associated with the strengthening of the dollar. We also add that the lack of clarity regarding U.S. monetary and fiscal policy has led to a decrease in demand. Recall that last week, the Federal Reserve surprised markets by saying that there will be revenge while reducing the amount of asset purchases , confounding expectations for a slight reduction experts . This decision led to a sharp rise in gold prices , but renewed concerns that the Fed may resort to a reduction in the program as early as next month, contributed to a marked decline , which is almost offsetting the early growth .

We add that the head of the Federal Reserve Bank of New York William Dudley said the U.S. central bank may further reduce its support for the economy at the end of this year, while the head of the St. Louis Fed President James Bullard said the incentives can be extended in October , but everything will depend on the economic data.

It should be noted that in the course of today's trading is also influenced by the U.S. data , which showed that house prices have continued to increase in July , although a somewhat slower pace than in previous months.

According to the report S & P / Case-Shiller, home prices in 10 major U.S. cities rose by 12.3% in the year ended in July. The housing price index S & P Case-Shiller 20-city U.S. in July rose by 12.4 % y / y , slightly weaker than expected growth of 12.5 % y / y It should be noted that the report was expressed caution about the prospects for house prices.

Meanwhile , another report showed that consumer confidence Conference Board, which increased slightly in August , fell in September. Index is currently 79.7 (1985 = 100 ) compared to 81.8 in August. The current conditions index rose to 73.2 from 70.9 . The expectations index fell to 84.1 from 89.0 last month.

Also today, it was reported that gold holdings in SPDR Gold Trust fell 0.1 percent on Monday , in connection with which the total outflow for the year rose to 440 thousand tons.

The cost of the October gold futures on COMEX today dropped to $ 1316.00 per ounce.

GOLD 1,321.70  -10.90 -0.82%

OIL (WTI) 103.49  -1.26 -1.20%