This is John Batchel, a conversation with colleague Elizabeth Peake of the Hill and Fox News,

about the price of oil, bouncing like a rubber ball. Liz describes the expectation of an American

and Israeli attack on Iran being a major contributor to the oil commerce on the planet, oil would climb higher.

And Liz says some people were speculating triple digit.

And then, his Liz Peek on surprise, bombs away, and oil, well, declining.

More of this later tonight. Well, if you had told anybody that we would wage war with Iran, we being the United States and Israel, and start bombing the heck out of

all their nuclear sites, obviously oil did bounce higher when all that happened. It had been

moving up as Israel attacked Iran. When the United States got involved, then oil went $75, $77 a barrel

with all kinds of stories about how it was headed to 120. Interestingly, this morning, it's under 66.

So it just goes to show you, A, that people are pretty confident that the ceasefire between Iran and Israel that Trump announced last night may not be perfect.

It may not hold entirely, but generally speaking, there's very little chance of escalation.