ABC News is quoting a Pentagon official says that Israel is increasingly likely to attack Iran this year. Saber rattling by the U.S.? White-House approved leak to pave the way for an actual attack? Defense official speaking out of school to draw attention to impending war? Whatever the case, oil market participants are increasingly blaming oil's seemingly unstoppable ascent on worries about war between Israel/United States and Iran.
Ed Yardeni's note to clients this morning is typical.