The price of oil just closed at $76.70 USD per barrel.
Why?
Hezbollah rocket attacks against Israeli resort town of Haifa
Israeli bombing (and rebombing) of Beirut airport runways
Hezbollah killing of 8 and kidnapping of 2 Israeli soldiers
Hamas kidnapping of Israeli soldier and subsquent Israeli offensive into Gaza
Bombing of Nigerian pipelines
North Korean missile tests
Mumbai terror bombings