Oil took a 7% dive yesterday as Israel pulled out of Palestine, temporarily mulling fears that the violence and warfare in the middle east will damage (or impede the production and export of) crude supplies. It was instability in the middle east that helped push oil to its peaks in the past few decades, and ironically it is the high oil prices that pay for the war appropriations.
Isn’t it ironic that warfare in the middle east helps some oil producing countries? Perhaps that’s one reason they’re so eager to maintain their aggressive policies.