Oil prices are up another $2 a barrel to $84.
All on fears of a potential war between Israel and Hezbollah, and an already active hurricane season. All of which could push oil giants, like Exxon Mobil (XOM) even higher.
As noted by CNBC, “Israel and Hezbollah have exchanged fire across the Lebanon border for months, but tensions have escalated in recent weeks as the two sides have threatened war. An Israeli invasion of Lebanon to push back Hezbollah could lead to a confrontation with OPEC-member Iran, analysts have warned.”
Should that happen, $100 oil wouldn’t be out of the question.