The price of oil rose despite the announcement of a cease-fire agreement to end a week of fighting between Israel and Hamas militants. Benchmark oil rose 63 cents to finish at $87.38 a barrel. It climbed as high as $87.89 in the morning.
Oil fell nearly 3 percent Tuesday, as rumors of a potential cease-fire spread. The fighting had raised concerns about oil supply from the Mideast.
In agricultural contracts, December corn fell 2.25 cents, or 0.3 percent, to end at $7.4025 a bushel, and March soybeans ended 4.5 cents, or 0.3 percent, lower at $14.082 a bushel. Wheat for December delivery was little changed at $8.46 a bushel.
Trading volumes were lower than normal before the Thanksgiving holiday.
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