Oil prices fall on hopes for a political solution in Gaza ...Middle East

WTI crude oil dailyIt's not clear how much political risk is currently priced into the oil market but we may soon find out.CNN reports that Hamas is considering a new framework proposed by Egypt that calls for the group to release as many as 33 hostages kidnapped from Israel in exchange for a pause in hostilities in Gaza. A slow release over several weeks and the release of Palestinian prisoners could lead to a durable calm in the area.Hamas is also joining talks in Cairo, in a hopeful sign.The news has prompted some selling in oil today with WTI down $1.26 to $82.59, which is the lowest since Thursday.Some estimate as much as an $8 premium in oil prices due to geopolitics but I think it's

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