Oil slips after Israel/Hamas cease-fire report

11/21/2012

Oil slips after Israel/Hamas cease-fire report

NEW YORK -- Crude-oil futures turned modestly lower Wednesday after Reuters reported that cease-fire agreement has been reached between Israel and Hamas, but a surprise decline in last week's U.S. crude inventories kept declines at a minimum.

January crude oil (CLF3) fell 12 cents to $86.63 a barrel on the New York Mercantile Exchange. It had traded as high as $87.89 earlier. Reuters attributed the news of a cease-fire to a Palestinian official with knowledge of Egyptian mediation between the two sides.

 

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