Crude oil settles at $78.48

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The crude oil is settling at $78.48. That is up $0.37 or 0.47%

There has been conflicting reports about a potential cease-fire in Israel. Hamas said they agreed to a Qatari/Egyptian brokered agreement but Israel says that the agreement was to a watered-down version and was not acceptable.

Meanwhile, reports are that Israel will go ahead with plans to bomb Rafah.

Despite the unrest, the price has been in a relatively narrow trading range. The low price average $77.94 more the high price extended to $79.05. The settlement price is toward the middle of that trading range.