Fears of an Israel-Hezbollah War Leave Oil Markets on Edge

While Putin was hoping his visit to Kim Jun-Il and a timely defense pact with North Korea would create more of a fuss in the media, center stage has been consumed by Israel and Lebanon, on the brink of war, or so is the fear.  For weeks, Israel and Hezbollah have been trading air strikes and rocket launches across the Israel-Lebanon border, with the situation escalating this week to the point that they are one concrete strike away from a declaration of all-out war. The likelihood is fairly high now that this will be the case, similar to the…