WTI crude oil is down $1.40 to $77.21 today in large part due to the possibility of a ceasefire in Gaza over the weekend.
Israeli officials have arrived in Paris for talks that also include Egypt, Qatar and the United States.
In late January there was a proposed a six-week pause in the conflict and the release of between 200 and 300 Palestinian prisoners in exchange for 35 to 40 hostages held by Hamas.
Hamas has asked for a permanent ceasefire while Israel says there won't be one until there is "total victory" and the destruction of Hamas.
Hamas has said there is no change in their positions but bravado in public often fades during private negotiations.
