News Headline Summary

ENERGY WRAP - US Crude futures settle at USD 87.38/BBL, up USD 0.63 or 0.73%

The energy complex settled marginally higher in a day of choppy trading. Early stories of continued violence in the Israel-Gaza conflict moved crude futures to the upside as did lower than expected DoE Inventories; however reaction was muted as there was a sense of pre-holiday malaise with some traders preparing for the Thanksgiving holiday tomorrow. A move to the downside was seen after news of a ceasefire helped assuage worries the conflict would further escalate, but doubts over the efficacy of the truce pushed crude futures higher with news of continued attacks up until the truce began at 1900GMT.

Print 19:32, 21 Nov 2012 - Commodities - Source: RANsquawk