A bomb explosion on a bus in central Tel Aviv threatened to derail stuttering moves towards an end to violence in Gaza on Wednesday, sending oil prices sharply higher.

It was the first such attack in Israel since the conflict began, and the first in the city since 2006.

Media in Gaza reported celebratory gunfire in the enclave after people heard news of the explosion. However, there has been no official claim of responsibility for the attack. It was followed by heavy blasts in Gaza, including at a sports stadium.

The conflict between Israel and the Islamist Hamas movement that controls the Gaza Strip entered its eighth day with intense diplomatic activity continuing in efforts to broker a ceasefire. ...

read more: http://www.ft.com/intl/cms/s/0/811575cc-33bf-11e2-9ce7-00144feabdc0.html

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SI Moderator - Greg Gordon