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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
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Author Topic: Oil prices fall as Israel-Hamas truce holds Back to Topics
REPLIES (newest first) Post a Reply
BM4225
Champion Author Atlanta

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

Yes but for how long?
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.
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]
KrsnaDragon
Champion Author Montreal

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

The article was informative.
Zonk
Champion Author Michigan

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Message Posted: Nov 26, 2012 10:46:50 PM

Let's keep increasing USA oil production at this time.
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.
hyeglenn
Champion Author Fresno

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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.
mpg611
Champion Author Cleveland

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Message Posted: Nov 26, 2012 10:37:04 PM

Dont hold your breath.......
judgemobile
Champion Author Ohio

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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."
"
pbear316
Champion Author Akron

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Message Posted: Nov 26, 2012 10:35:37 PM

Ok for now.
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...
1Casey
Champion Author Albany

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Message Posted: Nov 26, 2012 10:34:45 PM

$peculation
LanguageMan1
Champion Author Tampa

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Message Posted: Nov 26, 2012 10:33:43 PM

Wonder how long it'll last.
Rooster922
Champion Author Wilmington

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Message Posted: Nov 26, 2012 10:32:57 PM

Yeah
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.
drewsworld
Sophomore Author Los Angeles

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

truce truce truce
streetcars
Champion Author Toledo

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

WOO-HOOO!
Rageagainsttm
Champion Author Tampa

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Message Posted: Nov 26, 2012 10:26:13 PM

While gas prices are on the rise.
snky2k
Champion Author Indianapolis

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Message Posted: Nov 26, 2012 10:25:54 PM

Hamas = Iran
jkpsr
Champion Author New Jersey

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Message Posted: Nov 26, 2012 10:25:44 PM

Wait until Iran starts to saber rattle.
CarefreeVT
Champion Author Burlington

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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!
yyc2yow
Champion Author Ottawa

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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
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.
Rageagainsttm
Champion Author Tampa

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

Thats good.
gsayeg1
Champion Author Milwaukee

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Message Posted: Nov 26, 2012 10:24:36 PM

Israel will take care of itself
nd73
Champion Author Grand Rapids

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Message Posted: Nov 26, 2012 10:24:01 PM

Any ol' excuse will do!
KnoxGasPriceSpy
Champion Author Knoxville

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Message Posted: Nov 26, 2012 10:22:15 PM

ours has gone up...
cheaper0ON
Champion Author Ontario

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Message Posted: Nov 26, 2012 10:21:34 PM

Up n Down
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.
grandamgt1
Champion Author Illinois

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Message Posted: Nov 26, 2012 10:17:07 PM

Hamas will not keep their word.
JamesCalvin
Champion Author Lancaster

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Message Posted: Nov 26, 2012 10:17:00 PM

Up and down!
VanIsleLes
All-Star Author British Columbia

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

Good
wshokie12
Champion Author Winston-Salem

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

Hang on
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..
SteelPenny
Champion Author Dallas

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

ok.
jetskijerry
Champion Author North Carolina

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

Up & Down
FrankTA2
Champion Author New York

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Message Posted: Nov 26, 2012 10:14:12 PM

Shocking that it didn't skyrocket.
unicornpmb
Champion Author Buffalo

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Message Posted: Nov 26, 2012 10:13:37 PM

I wonder for how long?
rahcat
Champion Author Grand Rapids

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Message Posted: Nov 26, 2012 10:11:39 PM

Don't hold your breath.
tedjm1
Champion Author New York

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Message Posted: Nov 26, 2012 10:10:50 PM

Maybe prices linked to the war?
boatfloyd
Champion Author Jacksonville

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Message Posted: Nov 26, 2012 10:09:46 PM

It's all about shopping.
KhelbenArunson
Champion Author Michigan

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Message Posted: Nov 26, 2012 10:09:44 PM

good.
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...
mfeldstein
Champion Author Ottawa

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

Keep the peace.
Glock26
Champion Author Dayton

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Message Posted: Nov 26, 2012 10:04:22 PM

Good!!!
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.
arb0526
Champion Author Greensboro

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Message Posted: Nov 26, 2012 10:03:33 PM

ok
bston
Champion Author Oklahoma City

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

It won't last.
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.
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.
CivicMA
Champion Author Boston

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Message Posted: Nov 26, 2012 8:43:29 AM

Peace is good, even if temporary.

Didn't notice any real price-gouging here during the confrontation, but prices hadn't decreased in weeks either and still $0.20/gal higher than national. So prices stayed the same before/during/after this confrontation.
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