Business

Geopolitical tensions seen keeping oil prices high

By Pablo Gorondi
Published July 22, 2014 9:42pm ET
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Geopolitical tensions seen keeping oil prices high
Israeli soldier march during a drill near Israel and Gaza border, Tuesday, July 22, 2014. Israeli airstrikes pummeled a wide range of targets in the Gaza Strip on Tuesday as the U.N. chief and the U.S. secretary of state began an intensive effort to end more than two weeks of fighting that has killed hundreds of Palestinians and dozens of Israelis.(AP Photo/Tsafrir Abayov) | Tsafrir Abayov

The price of oil fell slightly Tuesday but experts see geopolitical tensions preventing any significant short-term declines.

U.S. benchmark crude for August delivery fell 17 cents to $104.42 a barrel on the New York Mercantile Exchange. The more heavily traded September contract slipped 47 cents to $102.39.

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