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Oil prices fall as Israel-Hamas truce holds

PhillyBurbs -- The price of oil fell Monday as a truce between Israel and the militant group Hamas that stopped fighting in the Gaza Strip appeared to hold despite a confrontation late last week.

Benchmark oil for January delivery was down 33 cents to $87.95 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. On Friday, the contract rose 90 cents to close at $88.28 a barrel on the Nymex after Israeli troops fired on crowds in Gaza surging toward a border fence, killing one Palestinian.

Prior to the shooting, oil prices had been falling, thanks mostly to optimism that the cease-fire agreement between the two sides would prevent a broader conflict in the region that could disrupt crude supplies. The truce was struck last Wednesday to end to an eight-day Israeli

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Submitted Nov 26, 2012 By: angel4me

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BM4225 Champion Author Atlanta Posts:10,134 Points:2,097,220 Joined:Aug 2006	Message Posted: Nov 28, 2012 7:23:47 AM Ignore BM4225 Report Abuse Yes but for how long?
indyjim Champion Author Indianapolis Posts:10,111 Points:2,322,355 Joined:Jul 2006	Message Posted: Nov 27, 2012 10:59:32 AM Ignore indyjim Report Abuse UN forces should be keeping the peace in the region, showing both countries that the WORLD'S goal is for peace.
granitestater Champion Author New Hampshire Posts:8,836 Points:1,432,700 Joined:Oct 2008	Message Posted: Nov 27, 2012 12:54:41 AM Ignore granitestater Report Abuse Just for the record. The Balfour Declaration and the UN divided Palestine into two constituent parts. A Jewish state known as Israel. And a Muslim state known as Trans-Jordan. (Meaning: Across the Jordan river.) Or Jordan for short. Meaning they are both fighting over territory that was allocated to Jewish domain some ninety-five years ago (1917)... [Edited by: granitestater at 11/27/2012 12:55:13 AM EST]
KrsnaDragon Champion Author Montreal Posts:2,422 Points:534,325 Joined:Nov 2011	Message Posted: Nov 27, 2012 12:49:01 AM Ignore KrsnaDragon Report Abuse The article was informative.
Zonk Champion Author Michigan Posts:6,496 Points:2,105,690 Joined:Oct 2005	Message Posted: Nov 27, 2012 12:46:50 AM Ignore Zonk Report Abuse Let's keep increasing USA oil production at this time.
granitestater Champion Author New Hampshire Posts:8,836 Points:1,432,700 Joined:Oct 2008	Message Posted: Nov 27, 2012 12:45:55 AM Ignore granitestater Report Abuse Doesn't matter. Any war near the Persian Gulf will affect world oil prices.
hyeglenn Champion Author Fresno Posts:1,085 Points:602,605 Joined:Apr 2011	Message Posted: Nov 27, 2012 12:37:55 AM Ignore hyeglenn Report Abuse We should be drilling more of our own oil and not worried whats happening on the other side of the world.
mpg611 Champion Author Cleveland Posts:2,350 Points:572,770 Joined:Apr 2011	Message Posted: Nov 27, 2012 12:37:04 AM Ignore mpg611 Report Abuse Dont hold your breath.......
judgemobile Champion Author Ohio Posts:7,585 Points:2,448,060 Joined:Nov 2005	Message Posted: Nov 27, 2012 12:36:21 AM Ignore judgemobile Report Abuse like Rahm Emanuel said: "Never let a good crisis go to waste." "
pbear316 Champion Author Akron Posts:2,045 Points:680,065 Joined:Apr 2011	Message Posted: Nov 27, 2012 12:35:37 AM Ignore pbear316 Report Abuse Ok for now.
Bigwaynef Champion Author South Carolina Posts:11,495 Points:2,083,685 Joined:Dec 2006	Message Posted: Nov 27, 2012 12:35:16 AM Ignore Bigwaynef Report Abuse Yay we might even see a penny drop on gas over the next 30 days, before it starts back up...
1Casey Champion Author Albany Posts:6,543 Points:1,793,910 Joined:Jun 2004	Message Posted: Nov 27, 2012 12:34:45 AM Ignore 1Casey Report Abuse $peculation
LanguageMan1 Champion Author Tampa Posts:11,738 Points:1,664,715 Joined:Apr 2008	Message Posted: Nov 27, 2012 12:33:43 AM Ignore LanguageMan1 Report Abuse Wonder how long it'll last.
Rooster922 Champion Author Wilmington Posts:3,803 Points:658,995 Joined:Jan 2009	Message Posted: Nov 27, 2012 12:32:57 AM Ignore Rooster922 Report Abuse Yeah
Quick68 Champion Author Columbus Posts:8,264 Points:1,228,725 Joined:Dec 2009	Message Posted: Nov 27, 2012 12:29:32 AM Ignore Quick68 Report Abuse Forget the price of oil. Lets get the price of gas down.
drewsworld Sophomore Author Los Angeles Posts:240 Points:19,205 Joined:Aug 2012	Message Posted: Nov 27, 2012 12:28:47 AM Ignore drewsworld Report Abuse truce truce truce
streetcars Champion Author Toledo Posts:12,279 Points:2,609,565 Joined:Apr 2005	Message Posted: Nov 27, 2012 12:27:15 AM Ignore streetcars Report Abuse WOO-HOOO!
Rageagainsttm Champion Author Tampa Posts:8,313 Points:1,905,055 Joined:Jul 2007	Message Posted: Nov 27, 2012 12:26:13 AM Ignore Rageagainsttm Report Abuse While gas prices are on the rise.
snky2k Champion Author Indianapolis Posts:1,413 Points:306,490 Joined:Mar 2012	Message Posted: Nov 27, 2012 12:25:54 AM Ignore snky2k Report Abuse Hamas = Iran
jkpsr Champion Author New Jersey Posts:4,094 Points:1,104,830 Joined:Jun 2005	Message Posted: Nov 27, 2012 12:25:44 AM Ignore jkpsr Report Abuse Wait until Iran starts to saber rattle.
CarefreeVT Champion Author Burlington Posts:1,812 Points:260,530 Joined:Aug 2012	Message Posted: Nov 27, 2012 12:25:35 AM Ignore CarefreeVT Report Abuse The funny thing is we already have two months worth in refinement, storage and on its way from different sources. Who cares about oil over there anymore? We can get it from Brazil now. It's more about whether or not these people fighting over a three thousand year old family feud is going to start World War III!!!! Seriously, national average flattens out... It should continue to be falling. Instead we are going to see it rise in the coming days/weeks. It has nothing to do with these jokers, though some would like to make you think so. Question Reality!
yyc2yow All-Star Author Ottawa Posts:663 Points:572,285 Joined:Dec 2009	Message Posted: Nov 27, 2012 12:25:18 AM Ignore yyc2yow Report Abuse And really how long do you think it will stay like that
TravisTuxy Sophomore Author Louisville Posts:125 Points:281,135 Joined:Feb 2012	Message Posted: Nov 27, 2012 12:25:14 AM Ignore TravisTuxy Report Abuse We now have almost a dozen area stations with regular pricing under $3 a gallon! If Hamas will hold to the cease fire, this won't be an issue with pricing.
Rageagainsttm Champion Author Tampa Posts:8,313 Points:1,905,055 Joined:Jul 2007	Message Posted: Nov 27, 2012 12:24:50 AM Ignore Rageagainsttm Report Abuse Thats good.
gsayeg1 All-Star Author Milwaukee Posts:796 Points:140,985 Joined:Jun 2008	Message Posted: Nov 27, 2012 12:24:36 AM Ignore gsayeg1 Report Abuse Israel will take care of itself
nd73 Champion Author Grand Rapids Posts:1,082 Points:489,450 Joined:May 2007	Message Posted: Nov 27, 2012 12:24:01 AM Ignore nd73 Report Abuse Any ol' excuse will do!
KnoxGasPriceSpy Champion Author Knoxville Posts:140,886 Points:922,745 Joined:Oct 2010	Message Posted: Nov 27, 2012 12:22:15 AM Ignore KnoxGasPriceSpy Report Abuse ours has gone up...
cheaper0ON All-Star Author Ontario Posts:998 Points:400,980 Joined:Jan 2012	Message Posted: Nov 27, 2012 12:21:34 AM Ignore cheaper0ON Report Abuse Up n Down
billy44bo Champion Author Mobile Posts:7,222 Points:1,493,795 Joined:Feb 2008	Message Posted: Nov 27, 2012 12:21:15 AM Ignore billy44bo Report Abuse gald that they are not killing each other but it will start up soon and the price of oil will go up from there.
grandamgt1 Champion Author Illinois Posts:2,361 Points:1,243,250 Joined:Apr 2008	Message Posted: Nov 27, 2012 12:17:07 AM Ignore grandamgt1 Report Abuse Hamas will not keep their word.
JamesCalvin Champion Author Lancaster Posts:3,201 Points:522,480 Joined:Nov 2011	Message Posted: Nov 27, 2012 12:17:00 AM Ignore JamesCalvin Report Abuse Up and down!
VanIsleLes All-Star Author British Columbia Posts:898 Points:279,245 Joined:Jun 2012	Message Posted: Nov 27, 2012 12:16:32 AM Ignore VanIsleLes Report Abuse Good
wshokie12 Champion Author Winston-Salem Posts:1,330 Points:219,260 Joined:Aug 2012	Message Posted: Nov 27, 2012 12:16:00 AM Ignore wshokie12 Report Abuse Hang on
10k Champion Author North Carolina Posts:21,280 Points:2,256,945 Joined:May 2006	Message Posted: Nov 27, 2012 12:14:59 AM Ignore 10k Report Abuse apparently nobody around here was told that prices were supposed to fall, cause ours are continuing to rise.. on a side note: just how long do y'all think hamas will honor this "truce" ??..i hope israel is reloading, cause it won't last..
SteelPenny Champion Author Dallas Posts:31,003 Points:2,609,665 Joined:Sep 2005	Message Posted: Nov 27, 2012 12:14:40 AM Ignore SteelPenny Report Abuse ok.
jetskijerry Champion Author North Carolina Posts:3,911 Points:775,195 Joined:Mar 2011	Message Posted: Nov 27, 2012 12:14:14 AM Ignore jetskijerry Report Abuse Up & Down
FrankTA2 Champion Author New York Posts:4,305 Points:1,098,150 Joined:Jun 2007	Message Posted: Nov 27, 2012 12:14:12 AM Ignore FrankTA2 Report Abuse Shocking that it didn't skyrocket.
unicornpmb Champion Author Buffalo Posts:8,506 Points:1,632,440 Joined:Sep 2005	Message Posted: Nov 27, 2012 12:13:37 AM Ignore unicornpmb Report Abuse I wonder for how long?
rahcat Champion Author Grand Rapids Posts:2,483 Points:665,875 Joined:Jan 2010	Message Posted: Nov 27, 2012 12:11:39 AM Ignore rahcat Report Abuse Don't hold your breath.
tedjm1 Champion Author New York Posts:5,609 Points:800,300 Joined:Dec 2006	Message Posted: Nov 27, 2012 12:10:50 AM Ignore tedjm1 Report Abuse Maybe prices linked to the war?
boatfloyd Champion Author Jacksonville Posts:1,733 Points:390,900 Joined:Mar 2012	Message Posted: Nov 27, 2012 12:09:46 AM Ignore boatfloyd Report Abuse It's all about shopping.
KhelbenArunson Champion Author Michigan Posts:4,461 Points:720,790 Joined:Apr 2008	Message Posted: Nov 27, 2012 12:09:44 AM Ignore KhelbenArunson Report Abuse good.
yakstar Champion Author Montreal Posts:2,435 Points:482,570 Joined:Jan 2012	Message Posted: Nov 27, 2012 12:06:30 AM Ignore yakstar Report Abuse they all went to Plattsburg for Black Friday...
mfeldstein Champion Author Ottawa Posts:8,186 Points:1,933,405 Joined:Feb 2007	Message Posted: Nov 27, 2012 12:06:15 AM Ignore mfeldstein Report Abuse Keep the peace.
Glock26 Champion Author Dayton Posts:1,539 Points:635,310 Joined:Mar 2011	Message Posted: Nov 27, 2012 12:04:22 AM Ignore Glock26 Report Abuse Good!!!
PrinceLH Champion Author Ontario Posts:2,707 Points:540,970 Joined:Jun 2011	Message Posted: Nov 27, 2012 12:04:00 AM Ignore PrinceLH Report Abuse Just a lull, until Iran can replentish the rockets, that Hamas have already used.
arb0526 Champion Author Greensboro Posts:1,991 Points:413,545 Joined:Mar 2011	Message Posted: Nov 27, 2012 12:03:33 AM Ignore arb0526 Report Abuse ok
bston Champion Author Oklahoma City Posts:1,830 Points:644,975 Joined:Mar 2011	Message Posted: Nov 26, 2012 11:23:24 PM Ignore bston Report Abuse It won't last.
bruceha2000 Champion Author Vermont Posts:2,877 Points:1,287,265 Joined:Sep 2005	Message Posted: Nov 26, 2012 12:49:48 PM Ignore bruceha2000 Report Abuse And how much oil is produced in Israel? In Gaza? Right, none. Any price change based on their fracas is absurd but expected. Any "the sky is falling" event is an oil speculator's wet dream.
doctorindyj Champion Author Santa Fe Posts:3,463 Points:842,510 Joined:Nov 2009	Message Posted: Nov 26, 2012 11:32:11 AM Ignore doctorindyj Report Abuse So what's the truce 4 rockets an hour instead of ten? I'm sure some new problem will come along shortly to raise prices again.