SEE VIDEO: Israeli Threat Spikes Our Oil Prices, We Pay More For This
Wall Street Journal article excerpt about the Israeli Transport Minister's threat which drove up oil prices: "A senior Israeli official told a prominent Israeli daily Friday that an Israeli attack against Iran was "unavoidable" if Tehran continued to push forward on its controversial nuclear program. Some observers said that single comment, from Transport Minister Shaul Mofaz, may have given oil prices a greater shot of adrenaline than anything else.
"It's one word that did this," said Guy Gleichmann, president of United Strategic Investors Group, a commodities brokerage in Hollywood, Fla. "'Unavoidable.' It's basically saying, 'We're going to attack.'"
Rumors of war with Iran, Mr. Gleichmann said, have often led to a spike of several dollars in the price of oil. The issue had died down for a while, he said, but "this is like Jason coming back from the dead." - Crude Leaps Nearly $11, In Fresh Hit to Economy By NEIL KING JR. June 7, 2008; Page A1 WSJ
Tell Congress: Bush and Israel Have No Right to Attack Iran