Israel partially helped oil limit up today on the Nymex to $138 up $11. Traders hate being short going into a weekend especially something like oil. Then you add this to the equation and boom, you the makings for an oil run.
So is there anything to this? Probably not but I heard speculation months ago that if Israel was every going to do a preemptive strike like they did in 1981 there window is now and shrinking. They can probably do it under the Bush administration. After the elections the window is gone. I sort of doubt though that Israel would telegraph it like this. So probably it is just saber rattling. Either way it was enough to send oil skyrocketing higher.
http://www.foxnews.com/story/0,2933,363606,00.html
Israel will attack Iran if it doesn't abandon its nuclear program, a Cabinet minister hoping to replace embattled Prime Minister Ehud Olmert was quoted Friday as saying.
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