Oil Markets on Edge as Israel Prepares for an Iranian Retaliation

Wall Street is more nervous this week than it was last week, with U.S. benchmark oil prices gaining 3.5% at one point on Wednesday, as Israel (and everyone else in the region and beyond) waits for a response from Iran in retaliation for the assassination of Hamas’ Haniyeh on Iranian territory, which Israel has not yet acknowledged.  Israel is shoring up its internal defenses for war. The panic has begun. Flights over Iranian and Lebanese airspace are being avoided, amid growing fears of a regional military conflict. United Airlines suspended…