Oil Prices Fall as Diplomacy Eases Fears of Middle East Escalation

Oil prices decline as diplomatic efforts ease concerns of escalation in Middle East conflict

Israel agrees to hold off attack on Hamas following U.S. pressure, reducing fears of regional war

Diplomatic efforts follow outrage over missile strike on Gaza hospital and canceled U.S.-Arab leader summit

If situation changes, oil prices could surge over $10/barrel, analysts say

Oil prices taking a "breather" as focus shifts to aid and hostage releases rather than invasion