Lol... you dont understand the stocks and the volatility of the mid east...

When news of condolezza rice was going to mid east... My XOM and CVX stock dropped 2%
Now.. that the future fo this ongoing escalation is uncertain, very my stock jumped 5%

Not depleting oil reserves my dear, more of depleting in production capacity, this was one factor when this crisis started, As i haver stated i previous post.

Uncertainty in mideast, rather escalation in mideast, espesiaclly with IRAN, gives a sense that the flow of oil would be affected. Thus, inturn would increase the price of oil, as oil producers/countries/companies try to anticipate this.

Also another factor is the current round of oil re0investments, meaning oil companies/countries are investing in new technology and ways to improve oil prodcution capacity. This happened back in 1975-1980, oil prices went up 30% becuase of new drilling rigs and pipelines being put up oilers. Now, its another round of improvements on their prodcution capability. And with new environmental laws, comes more regulations for these oil producres, thus the need for new and better technology for producing oil.

I know it has going on for years, but I am talking about renewed hostility and escalation that might lead to increased volatility in that area.