At a glance: Oil falls on Mideast ceasefire talks

AP News
Posted: Nov 20, 2012 4:00 PM

NEW YORK (AP) — The price of oil fell sharply Tuesday on signs that Israel and Hamas are close to putting a halt to fighting that has lasted nearly a week.

On the New York Mercantile Exchange:

Benchmark crude fell $2.53, or 2.7 percent, to finish at $86.75 per barrel.

Heating oil fell 3.59 cents to end at $3.0392 a gallon.

Wholesale gasoline fell 4.2 cents to finish at $2.7125 per gallon.

Natural gas rose 11.3 cents to end at $3.8320 per 1,000 cubic feet.

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On the ICE Futures exchange in London:

Brent crude, which is used to price international varieties of oil, fell $1.87, or 1.7 percent, to finish at $109.83 per barrel.