Oil fell more than 2 percent on Tuesday, retreating from a one-month peak as investors took risk premium out of the market after a Hamas official announced that militants from the Gaza Strip and Israel had agreed to a ceasefire brokered by Egypt.
The market was still awaiting confirmation of a truce but the reduced worry about supply disruptions pressured oil prices.
Any evidence to dash this hope will surely see prices rocket again.
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11-21-2012, 09:08 PM #1Senior Member
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Oil Prices Have Fallen on the News of a Truce in the Gaza Strip
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11-23-2012, 08:31 PM #2Senior Member
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The truce didn't last long, as it never would. neither side truly wants peace, they want victory.
Hamas has claimed that Israeli troops fired on Palestinians near the Gaza Strip border, in an incident that left one dead and 25 injured.
What will happen to oil prices now?
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