Oil Markets Are Focused on Supply, Demand, and Israel

Oil markets were looking at two things this week (and likely next week): The eternal debate on supply and demand, and an Israel-Lebanon war that requires only a very small push to move it into full-on conflict mode.  Late on Thursday, Washington said it was making preparations to evacuate American citizens from Lebanon should that become necessary. Defense sources told the media that the Pentagon had moved an amphibious assault ship and special operations forces closer to Israel. At the same time, Israeli military officials have suggested…