Oil prices gain ahead of Fed meet OIL prices have pushed higher for the fifth straight session chasing a surge in the euro against the dollar ahead of the Federal Reserve's policy announcement and as worries over the Syrian conflict grew. WTI crude hit a nine-month high in New York on Tuesday, the contract for August delivery finishing at $98.44 a barrel, up 67 cents from Monday. In London, Brent North Sea crude for August ended at $106.02, up 55 cents. The gains came as the leaders of Russia and the rest of the Group of Eight meeting in Ireland failed to bridge divisions over ending the bloodshed in Syria, which has worried oil traders over the possible impact in other areas of the oil-rich Middle East. "It's the Syrian war," said Kelly Teoh, market strategist at IG Markets in Singapore. Oil is always very sensitive to any type of crisis or potential crisis. Meanwhile, the US dollar continued to sink against the euro, making dollar-denominated oil cheaper for those using the eurozone currency. The gains in oil prices also came ahead of the close on Wednesday of a two-day meeting of the US Federal Reserve, with chief Ben Bernanke expected to make clearer whether the Fed sees US growth on a sustainable path, justifying slowing its easy-money policies. "All eyes remain on Fed Chairman Ben Bernanke's speech tomorrow, amid ongoing rumours on the timeframe for tapering of the QE program," said Sucden brokers analyst Myrto Sokou.