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Cease-fire Rolls Back Oil & Metal Prices in International Trade.
The prices of gold and oil in the international trade pulled back to their normal price range after both the Hezbollah guerrillas and the Israel troops agreed to the suspension of hostilities in Middle East last Monday. The oil price per barrel on ICE Brent declined to as low as $1.81 to $73.82. Meanwhile, the New York Mercantile Exchange WTI slid 1.60 to $72.75 per barrel. Technical and international trade analysts stated that the decrease under the $73.50 per barrel of oil for WTI can lead to more deflation in the global price of oil. The unleaded gas of Nymex, on the other hand, dropped eig
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