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News Summary: Mideast Tensions Send Oil Higher

The Associated Press

OIL RISE: Crude oil and other energy futures rose as tensions worsened between Israel and the Palestinians. Oil for January delivery rose $1.05 to finish at $86.92 a barrel in New York, up 1.2 percent.

ROCKETS FIRED: Hamas fired rockets toward Jerusalem, triggering air raid sirens in the city. Israel called up reservists. Investors worry that an escalation of the conflict could impact the flow of oil from the region.

MIXED METALS: Gold rose, but other metals fell. December gold rose 90 cents to finish at $1,714.70 an ounce. Silver, platinum, palladium and copper all fell.
Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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