Glen Dale

Crude oil futures +7.6% to $40.59 on geopolitics; Israel's air strikes on the Gaza Strip have reminded investors of the risk, however remote, that tensions could threaten oil supplies from the Middle East.

We are crediting the rise of oil prices on an incorrect premis.
I do not believe that the situation in the Gaza will afrfect directly the supply of oil as it does not involve an oil production site.

The only way this coulsd happen would be, if the saudies would threaten to cut off oil supplies to force the U.S. to intervien and apply pressure on the israelies to halt their current actions.
Here in lies the problem for the Saudies: They have been desperatly trying to get oil back to the $ 70.00 pr barrel that their economy is based on; to interfere in the conflict will directly interfere with their efforts to recover their economy. Based on this I truly believe they shall take advantage and do everything in their power to avoid involvement and not risk any backlash from world public opinion. They must find other means than oil to resolve their moral conflict and or responsibility.
If they get involved others (not the Saudies) shall profit from any increase in the price of oil. If and when they should start to supply oil agin it would only drive the price of oil down agin, a no win position for the Saudies. Please mforgive my spelling, it has never been my strong point.