Prices of goods imported into the U.S. dropped in November for the first time in four months on cheaper crude oil and business equipment.

The 0.9 percent decline in the import-price index was more than forecast and followed a revised 0.3 percent increase in October that was smaller than initially estimated, the Labor Department reported today in Washington. The median forecast of 44 economists in a Bloomberg survey called for a 0.5 percent decrease. Prices excluding fuels fell 0.2 percent. Read more »

Oil prices climbed Friday November 20, 2012 after Israeli troops fired on crowds in Gaza surging toward the border fence, killing one Palestinian.

Benchmark crude ended the trading day up 90 cents to $88.28 a barrel on the New York Mercantile Exchange.

Brent, which is used to price international varieties of oil, was up 83 cents to $111.38 a barrel. Read more »

Oil prices rose further Monday November 19, 2012 as violence between Israelis and Palestinians ignited fears that that the conflict could spread throughout the region.

In New York, oil prices rose roughly $2 to $89 a barrel a day after an Israeli airstrike killed 10 people in one home in the Gaza Strip. Crude prices are up roughly 4% since the fighting erupted early last week.

Analysts, who see the oil market as oversupplied, said the general tension in the region was the only thing pushing prices higher. Read more »

Oil prices rose above $85 per barrel on Thursday Nov. 8, 2012 as postelection volatility continued.

Crude oil rose 75 cents to $85.19 in afternoon trading on the New York Mercantile Exchange. That followed a decline of 5 percent on Wednesday, when traders were spooked by worries about budget negotiations in the U.S. Analysts also say that oil supplies and production are high, which tends to drive down prices. Read more »