this post was submitted on 28 Nov 2024
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Did everything in Israel affect oil prices that much? Anecdotally I don't remember fuel prices shifting significantly, and looking at data it doesn't look like there was much of a response. Israel and its immediate surroundings aren't the big oil producers of the region. Those are all on the other side of the Arabian peninsula. The skirmish with Iran is the closest the whole situation has come to actually touching the oil countries, I think.
I think it is because this signals there will be no more weapon launches to/from Iran. Iranian oil infrastructure would be on the short list of additional targets. Plus there's always the risk of Iran closing the Persian Gulf.