News Column

Price of Oil Rises as Israel Launches Airstrikes in Gaza

Nov. 16, 2012

Staff and Wire Reports

The price of oil climbed Wednesday amid new concerns about possible supply disruptions in the Middle East after Israel launched airstrikes in Gaza.

Benchmark crude rose 94 cents to finish at $86.32 per barrel in New York.

Israeli leaders said the airstrikes, which killed a Hamas military commander, were the start of a broad operation in response to days of heavy rocket fire from militants in the neighboring Palestinian territory.

Meanwhile, the cost of gasoline in Tulsa continued to slip. The most common price of regular-grade fuel fell 2 cents to $2.97 a gallon.

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