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GasBuddy News Article

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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
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Oil prices fall as Israel-Hamas truce holds Back to Topics
REPLIES (newest first) Post a Reply
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BM4225
Champion Author Atlanta

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Message Posted: Nov 28, 2012 5:23:47 AM

Yes but for how long?
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indyjim
Champion Author Indianapolis

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Message Posted: Nov 27, 2012 8:59:32 AM

UN forces should be keeping the peace in the region, showing both countries that the WORLD'S goal is for peace.
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granitestater
Champion Author New Hampshire

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Message Posted: Nov 26, 2012 10:54:41 PM

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]
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KrsnaDragon
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Message Posted: Nov 26, 2012 10:49:01 PM

The article was informative.
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Zonk
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Message Posted: Nov 26, 2012 10:46:50 PM

Let's keep increasing USA oil production at this time.
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granitestater
Champion Author New Hampshire

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Message Posted: Nov 26, 2012 10:45:55 PM

Doesn't matter. Any war near the Persian Gulf will affect world oil prices.
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hyeglenn
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Message Posted: Nov 26, 2012 10:37:55 PM

We should be drilling more of our own oil and not worried whats happening on the other side of the world.
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mpg611
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Message Posted: Nov 26, 2012 10:37:04 PM

Dont hold your breath.......
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judgemobile
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Message Posted: Nov 26, 2012 10:36:21 PM

like Rahm Emanuel said: "Never let a good crisis go to waste."
"
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pbear316
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Message Posted: Nov 26, 2012 10:35:37 PM

Ok for now.
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Bigwaynef
Champion Author South Carolina

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Message Posted: Nov 26, 2012 10:35:16 PM

Yay we might even see a penny drop on gas over the next 30 days, before it starts back up...
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1Casey
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Message Posted: Nov 26, 2012 10:34:45 PM

$peculation
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LanguageMan1
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Message Posted: Nov 26, 2012 10:33:43 PM

Wonder how long it'll last.
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Rooster922
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Message Posted: Nov 26, 2012 10:32:57 PM

Yeah
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Quick68
Champion Author Columbus

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Message Posted: Nov 26, 2012 10:29:32 PM

Forget the price of oil. Lets get the price of gas down.
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drewsworld
Sophomore Author Los Angeles

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Message Posted: Nov 26, 2012 10:28:47 PM

truce truce truce
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streetcars
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Message Posted: Nov 26, 2012 10:27:15 PM

WOO-HOOO!
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Rageagainsttm
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Message Posted: Nov 26, 2012 10:26:13 PM

While gas prices are on the rise.
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snky2k
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Message Posted: Nov 26, 2012 10:25:54 PM

Hamas = Iran
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jkpsr
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Message Posted: Nov 26, 2012 10:25:44 PM

Wait until Iran starts to saber rattle.
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CarefreeVT
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Message Posted: Nov 26, 2012 10:25:35 PM

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!
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yyc2yow
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Message Posted: Nov 26, 2012 10:25:18 PM

And really how long do you think it will stay like that
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TravisTuxy
Sophomore Author Louisville

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Message Posted: Nov 26, 2012 10:25:14 PM

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.
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Rageagainsttm
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Message Posted: Nov 26, 2012 10:24:50 PM

Thats good.
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gsayeg1
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Message Posted: Nov 26, 2012 10:24:36 PM

Israel will take care of itself
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nd73
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Message Posted: Nov 26, 2012 10:24:01 PM

Any ol' excuse will do!
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KnoxGasPriceSpy
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Message Posted: Nov 26, 2012 10:22:15 PM

ours has gone up...
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cheaper0ON
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Message Posted: Nov 26, 2012 10:21:34 PM

Up n Down
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billy44bo
Champion Author Mobile

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Message Posted: Nov 26, 2012 10:21:15 PM

gald that they are not killing each other but it will start up soon and the price of oil will go up from there.
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grandamgt1
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Message Posted: Nov 26, 2012 10:17:07 PM

Hamas will not keep their word.
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JamesCalvin
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Message Posted: Nov 26, 2012 10:17:00 PM

Up and down!
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VanIsleLes
All-Star Author British Columbia

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Message Posted: Nov 26, 2012 10:16:32 PM

Good
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wshokie12
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Message Posted: Nov 26, 2012 10:16:00 PM

Hang on
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10k
Champion Author North Carolina

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Message Posted: Nov 26, 2012 10:14:59 PM

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..
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SteelPenny
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Message Posted: Nov 26, 2012 10:14:40 PM

ok.
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jetskijerry
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Message Posted: Nov 26, 2012 10:14:14 PM

Up & Down
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FrankTA2
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Message Posted: Nov 26, 2012 10:14:12 PM

Shocking that it didn't skyrocket.
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unicornpmb
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Message Posted: Nov 26, 2012 10:13:37 PM

I wonder for how long?
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rahcat
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Message Posted: Nov 26, 2012 10:11:39 PM

Don't hold your breath.
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tedjm1
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Message Posted: Nov 26, 2012 10:10:50 PM

Maybe prices linked to the war?
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boatfloyd
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Message Posted: Nov 26, 2012 10:09:46 PM

It's all about shopping.
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KhelbenArunson
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Message Posted: Nov 26, 2012 10:09:44 PM

good.
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yakstar
Champion Author Montreal

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Message Posted: Nov 26, 2012 10:06:30 PM

they all went to Plattsburg for Black Friday...
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mfeldstein
Champion Author Ottawa

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Message Posted: Nov 26, 2012 10:06:15 PM

Keep the peace.
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Glock26
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Message Posted: Nov 26, 2012 10:04:22 PM

Good!!!
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PrinceLH
Champion Author Ontario

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Message Posted: Nov 26, 2012 10:04:00 PM

Just a lull, until Iran can replentish the rockets, that Hamas have already used.
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arb0526
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Message Posted: Nov 26, 2012 10:03:33 PM

ok
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bston
Champion Author Oklahoma City

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Message Posted: Nov 26, 2012 9:23:24 PM

It won't last.
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bruceha2000
Champion Author Vermont

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Message Posted: Nov 26, 2012 10:49:48 AM

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.
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doctorindyj
Champion Author Santa Fe

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Message Posted: Nov 26, 2012 9:32:11 AM

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.
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