By the end of the day, however, prices had eased somewhat.
"The price eased today and there is still positive quantities in the market."
With the fighting over and the summer driving season having come to an end, too, the price has eased to about $63 a barrel.
Prices also eased slightly in the secondary Treasury note market.
Subsequently, as the extent of the damage became clearer, prices eased.
Prices of soybeans and grains eased before the report was released.
As of late April 2008, however, reports suggested that prices had not eased and in some cases had even increased.
Gold stocks were hurt as the price of gold eased.
Prices in the bond market eased slightly but there was no selloff.
Consumers may feel better that many analysts expect prices to ease in a couple of weeks when refineries get back on track.