Not Logged In Log In   Sign Up   Points Leaders
Follow Us    9:04 PM

GasBuddy News Article

37
votes
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


Read the Full Article

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
BM4225
Champion Author Atlanta

Posts:13,238
Points:2,852,195
Joined:Aug 2006
Message Posted: Nov 28, 2012 7:23:47 AM

Yes but for how long?
indyjim
Champion Author Indianapolis

Posts:14,706
Points:3,152,080
Joined:Jul 2006
Message Posted: Nov 27, 2012 10:59:32 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

Posts:13,015
Points:2,229,730
Joined:Oct 2008
Message Posted: Nov 27, 2012 12:54:41 AM

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:6,166
Points:1,338,820
Joined:Nov 2011
Message Posted: Nov 27, 2012 12:49:01 AM

The article was informative.
Zonk
Champion Author Michigan

Posts:9,823
Points:2,905,425
Joined:Oct 2005
Message Posted: Nov 27, 2012 12:46:50 AM

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

Posts:13,015
Points:2,229,730
Joined:Oct 2008
Message Posted: Nov 27, 2012 12:45:55 AM

Doesn't matter. Any war near the Persian Gulf will affect world oil prices.
hyeglenn
Champion Author Fresno

Posts:4,185
Points:1,405,710
Joined:Apr 2011
Message Posted: Nov 27, 2012 12:37:55 AM

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:5,751
Points:1,381,045
Joined:Apr 2011
Message Posted: Nov 27, 2012 12:37:04 AM

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

Posts:10,954
Points:3,264,925
Joined:Nov 2005
Message Posted: Nov 27, 2012 12:36:21 AM

like Rahm Emanuel said: "Never let a good crisis go to waste."
"
pbear316
Champion Author Akron

Posts:5,335
Points:1,507,090
Joined:Apr 2011
Message Posted: Nov 27, 2012 12:35:37 AM

Ok for now.
Bigwaynef
Champion Author South Carolina

Posts:15,740
Points:2,888,530
Joined:Dec 2006
Message Posted: Nov 27, 2012 12:35:16 AM

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:9,586
Points:2,456,160
Joined:Jun 2004
Message Posted: Nov 27, 2012 12:34:45 AM

$peculation
LanguageMan1
Champion Author Tampa

Posts:17,306
Points:2,473,615
Joined:Apr 2008
Message Posted: Nov 27, 2012 12:33:43 AM

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

Posts:4,255
Points:1,201,605
Joined:Jan 2009
Message Posted: Nov 27, 2012 12:32:57 AM

Yeah
Quick68
Champion Author Columbus

Posts:12,872
Points:2,037,850
Joined:Dec 2009
Message Posted: Nov 27, 2012 12:29:32 AM

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

Posts:247
Points:28,420
Joined:Aug 2012
Message Posted: Nov 27, 2012 12:28:47 AM

truce truce truce
streetcars
Champion Author Toledo

Posts:15,654
Points:3,412,050
Joined:Apr 2005
Message Posted: Nov 27, 2012 12:27:15 AM

WOO-HOOO!
Rageagainsttm
Champion Author Tampa

Posts:11,469
Points:2,688,555
Joined:Jul 2007
Message Posted: Nov 27, 2012 12:26:13 AM

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

Posts:3,669
Points:1,079,695
Joined:Mar 2012
Message Posted: Nov 27, 2012 12:25:54 AM

Hamas = Iran
jkpsr
Champion Author New Jersey

Posts:5,978
Points:1,638,420
Joined:Jun 2005
Message Posted: Nov 27, 2012 12:25:44 AM

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

Posts:2,079
Points:352,795
Joined:Aug 2012
Message Posted: Nov 27, 2012 12:25:35 AM

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

Posts:1,043
Points:690,575
Joined:Dec 2009
Message Posted: Nov 27, 2012 12:25:18 AM

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

Posts:248
Points:940,720
Joined:Feb 2012
Message Posted: Nov 27, 2012 12:25:14 AM

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:11,469
Points:2,688,555
Joined:Jul 2007
Message Posted: Nov 27, 2012 12:24:50 AM

Thats good.
gsayeg1
Champion Author Milwaukee

Posts:1,762
Points:255,305
Joined:Jun 2008
Message Posted: Nov 27, 2012 12:24:36 AM

Israel will take care of itself
nd73
Champion Author Grand Rapids

Posts:1,145
Points:537,085
Joined:May 2007
Message Posted: Nov 27, 2012 12:24:01 AM

Any ol' excuse will do!
KnoxGasPriceSpy
Champion Author Knoxville

Posts:159,606
Points:1,750,845
Joined:Oct 2010
Message Posted: Nov 27, 2012 12:22:15 AM

ours has gone up...
cheaper0ON
Champion Author Ontario

Posts:4,320
Points:1,232,705
Joined:Jan 2012
Message Posted: Nov 27, 2012 12:21:34 AM

Up n Down
billy44bo
Champion Author Mobile

Posts:10,359
Points:2,287,735
Joined:Feb 2008
Message Posted: Nov 27, 2012 12:21:15 AM

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:5,720
Points:2,053,855
Joined:Apr 2008
Message Posted: Nov 27, 2012 12:17:07 AM

Hamas will not keep their word.
JamesCalvin
Champion Author Lancaster

Posts:6,658
Points:1,347,885
Joined:Nov 2011
Message Posted: Nov 27, 2012 12:17:00 AM

Up and down!
VanIsleLes
All-Star Author British Columbia

Posts:898
Points:332,895
Joined:Jun 2012
Message Posted: Nov 27, 2012 12:16:32 AM

Good
wshokie12
Champion Author Winston-Salem

Posts:3,505
Points:948,215
Joined:Aug 2012
Message Posted: Nov 27, 2012 12:16:00 AM

Hang on
10k
Champion Author North Carolina

Posts:25,800
Points:3,062,875
Joined:May 2006
Message Posted: Nov 27, 2012 12:14:59 AM

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:38,743
Points:3,415,790
Joined:Sep 2005
Message Posted: Nov 27, 2012 12:14:40 AM

ok.
jetskijerry
Champion Author North Carolina

Posts:7,174
Points:1,566,085
Joined:Mar 2011
Message Posted: Nov 27, 2012 12:14:14 AM

Up & Down
FrankTA2
Champion Author New York

Posts:7,288
Points:1,873,250
Joined:Jun 2007
Message Posted: Nov 27, 2012 12:14:12 AM

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

Posts:11,874
Points:2,464,645
Joined:Sep 2005
Message Posted: Nov 27, 2012 12:13:37 AM

I wonder for how long?
rahcat
Champion Author Grand Rapids

Posts:6,125
Points:1,498,000
Joined:Jan 2010
Message Posted: Nov 27, 2012 12:11:39 AM

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

Posts:5,609
Points:801,050
Joined:Dec 2006
Message Posted: Nov 27, 2012 12:10:50 AM

Maybe prices linked to the war?
boatfloyd
Champion Author Jacksonville

Posts:5,143
Points:1,199,590
Joined:Mar 2012
Message Posted: Nov 27, 2012 12:09:46 AM

It's all about shopping.
KhelbenArunson
Champion Author Michigan

Posts:7,572
Points:1,498,385
Joined:Apr 2008
Message Posted: Nov 27, 2012 12:09:44 AM

good.
yakstar
Champion Author Montreal

Posts:5,550
Points:1,265,400
Joined:Jan 2012
Message Posted: Nov 27, 2012 12:06:30 AM

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

Posts:11,419
Points:2,713,510
Joined:Feb 2007
Message Posted: Nov 27, 2012 12:06:15 AM

Keep the peace.
Glock26
Champion Author Dayton

Posts:4,771
Points:1,412,810
Joined:Mar 2011
Message Posted: Nov 27, 2012 12:04:22 AM

Good!!!
PrinceLH
Champion Author Ontario

Posts:6,094
Points:1,350,095
Joined:Jun 2011
Message Posted: Nov 27, 2012 12:04:00 AM

Just a lull, until Iran can replentish the rockets, that Hamas have already used.
arb0526
Champion Author Greensboro

Posts:2,781
Points:582,685
Joined:Mar 2011
Message Posted: Nov 27, 2012 12:03:33 AM

ok
bston
Champion Author Oklahoma City

Posts:5,146
Points:1,475,150
Joined:Mar 2011
Message Posted: Nov 26, 2012 11:23:24 PM

It won't last.
bruceha2000
Champion Author Vermont

Posts:2,920
Points:1,301,455
Joined:Sep 2005
Message Posted: Nov 26, 2012 12:49:48 PM

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:5,289
Points:1,579,650
Joined:Nov 2009
Message Posted: Nov 26, 2012 11:32:11 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

Posts:5,327
Points:1,343,575
Joined:Jun 2011
Message Posted: Nov 26, 2012 10:43:29 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.
Post a reply Back to Topics