Crude oil futures rose on Tuesday as traders are awaiting the start of a two-day meeting of the Federal Reserve System, the outcome of which will depend on the future dynamics of oil prices.

Today starts the meeting of the Committee on the Federal Open Market , which resulted , as analysts suggest , the controller will cut another $ 10 billion program volume QEIII. Against this background , experts predict that the price of oil in the next two days will be traded in a limited range while maintaining prospects for further growth. Recall that last month the Fed surprised some investors when it announced plans to launch phase out its purchase of bonds to $ 75 billion to $ 85 billion . Since that time , the stock market retreated on concerns about economic growth in emerging markets , which potentially complicates the path to further reduce the bond purchases.

Meanwhile, traders say prices are rising amid lingering harsh weather conditions in the U.S., which lead to a reduction in the quantity of fuel in the country.

"The cold weather in the U.S. helped boost demand for heating oil and propane, as well as create a shortage of fuel supplies in the region" , - experts said Goldman Sachs Group Inc.

Add that analysts also expect a report tomorrow from the U.S. Energy Information Administration , which is estimated to show another weekly decline in distillate stocks . Stocks. Some experts also expect that crude oil inventories rose by more than 2 million barrels for the week ended January 24. If this forecast proves correct , it will be the second consecutive increase Nedalniy , after a seven-week fall.

Furthermore , we recall that today its inventory report will present the American Petroleum Institute , which will help better prepare for tomorrow's data, and possibly revise estimates

March futures price for U.S. light crude oil WTI (Light Sweet Crude Oil) rose to $97.45 per barrel on the New York Mercantile Exchange (NYMEX).

March futures price for North Sea Brent crude oil mixture increased by 55 cents to $107.50 a barrel on the London exchange ICE Futures Europe.

Gold prices declined moderately today , after weak U.S. data on orders for durable goods decreased optimism regarding the strength of the economy , reducing expectations for a further reduction in stimulus from the Fed.

The U.S. Commerce Department said that new orders for durable goods fell 4.3% in December from November to $ 229.3 billion, which is the second drop in three months , and was marked the steepest decline since July. The decrease was due to a decline in demand for civilian aircraft , which is a volatile category. But even excluding the transportation sector , orders for durable goods fell by 1.6 %, showing the biggest drop since March. Economists had forecast an increase of 2 % of orders for durable goods in December. The data indicate that consumers and businesses are still spending cautiously , despite signs that the U.S. economy is gaining strength in recent months of 2013. The report also showed that demand in November was weaker than previously thought. New figures showed that overall orders for durable goods rose 2.6% in the same month , instead of the previously voiced 3.4%. Orders excluding transportation were revised downward to 0.1 % increase instead of 1.2%.

Meanwhile, adding that traders begin to prepare for the announcement of the two-day meeting on Wednesday and evaluate possible courses of action with respect to bond-buying program the central bank. This meeting will be the last for the current Fed chairman Ben Bernanke . In this position, it will replace the current Vice Chairman Janet Yellen . Market analysts expect the Fed to cut its bond-buying program to a level of $ 65 billion from the current $ 75 billion . Recall that the central bank announced its first reduction of monthly purchases of bonds in December , citing an improving economy . Results of Fed meeting will be crucial for gold in the short term . Further reduction of stimulus in the U.S. could lead to new large-scale sales of metal , while the delay to minimize the program , on the contrary , provoke purchase. Given the considerable uncertainty in this matter , gold in the short term , is likely to trade without significant changes.

Cost February gold futures on the COMEX today dropped to $ 1251.50 per ounce.

Gold $1,254.01 -$16.05 -1.26%

Oil $95.88 -$0.76 -0.79%