There are some people out there who believe a war between Israel and Lebanon is imminent, or at least the odds are rising. That’s a tough call to make but it’s underpinning a rise in oil (and perhaps gold?) today.
Now Israel and Lebanon are not material producers of fossil fuels but the fear here is that this somehow leads to war between Israel and Iran. I think that’s not very likely but that’s the oil market for you.
This article was written by Adam Button at www.forexlive.com.
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