Oil prices fell today after a rise in U.S. crude stockpiles and a climb in the dollar index, giving up some ground gained a day earlier when prices jumped on fears of a broader conflict in the Middle East.
 
The benchmark oil contracts had settled nearly two percent higher yesterday but fell back after the Wall Street Journal reported that Israel has agreed to delay an expected invasion of Gaza for now.
 
In intra-day trade, Brent crude was trading at 88 dollars and 56 cents per barrel. Western Texas Intermediate crude price was trading at 83 dollars and 68 cents per barrel.