How is the war affect oil price?Mr Paraga, you're dumber than you think.How these two non producing oil countries would affect the price of oil, other than an unfounded fear, which we are witnessing right now? Neither Palestine nor Israel produce any oil. Unless there is a conflict involving Iran and/or Saudi Arabia engage in war, the flow of oil will not be affected. And by implication nor will there be the sp's of the oil companies. Short run however, we may see a spike of oil and co's sp's due to unfounded fear.