While Iran decided to release the 15 British soldiers they had taken into custody today — the price of oil did not drop back as much as some might have liked.

The escalating tensions surrounding this incident had been cited as one of the main reasons the price of oil had continued to pick up ground last week.

The price of a barrel of crude closed today at 64.38 — down only 26 cents.

Last time I filled up a tank of gas in Phoenix before I returned Monday to the Worldwide Headquarters? It was $3.17 a gallon. (Yes, unfortunately it was premium.)

Then again, the news concerning the British sailors did come in late today. We’ll see what happens tomorrow.