RE:Big drop?mbuch...Yep...
My post from a few days ago in respoinse to a post by Migraine..
"Obviously we will need to see how this plays out.
Saudi Arabia under MBS are moving towards a normalization of relations between them and Israel. In an interview with Brett Baier MBS made it clear that he wants an agreement. It is also well known that many members of MBS' inner circle of advisor have little patience for Hamas and some are openly hostile towards the group.
Right now the Saudis and the Israelis have two common enemies - Iran and Islamic fundamentalists and this is more important than Hamas playing a losing battle with the military of Israel. Right now the only people calling for a blockade are the Iranians and both Israel and SA see them as an enemy.
With this as background, there might be a short term pop in the oil price gamed by people who hope others react without knowing the true situation but I don't see such a price pop lasting very long if it even occurs at all.
Bottom Line?
I wouldn't be buying oil companies based on the actions by Hamas and the Israeli reaction except possibly for a quick round trip....and even then it might already be too late by the time the markets open after the weekend."