Today's dramatic $6-a-barrel spike in oil has been blamed on a couple of factors - a forecast by Morgan Stanley (NYSE:MS) claiming oil would hit $150 a barrel by July and a weakening dollar off news unemployment increased half a percent for the month of May.
But CNBC contributor John Kilduff, who is also the vice president of risk management for MF Global (NYSE:MF), told viewers on the June 6 "Squawk on the Street" geopolitical factors, specifically remarks from an Israeli official about attacking a nuclear facility in Iran, is behind the spike.
"[W]hat's really lit up this market big time here is, which hasn't been really mentioned. I haven't heard too much and I'm surprised at, is deputy minister in Israel said this morning that an attack on Iran's nuclear facilities is quote, ‘unavoidable,'" said Kilduff on CNBC's "Squawk on the Street."
In an article previewing the possible damage to Israeli Prime Minister Ehud Olmert as a result of the Winograd Report into Israel's 34-day war with Hezbollah in the summer of 2006, AFP's Ron Bousso echoes a questionable claim about the 2006 Israeli War against Hezbollah in southern Lebanon:
It is expected to focus on Olmert's controversial decision to order a massive ground offensive in south Lebanon 60 hours before a UN-brokered ceasefire agreement was due to take effect on August 14.
Thirty-three Israeli soldiers were killed in the offensive launched just one hour after the final version of UN Security Council Resolution 1701 was presented to Israel.
Major Tomer Buhadana was one of those wounded during the last 48 hours of war, which in all killed 1,200 Lebanese, mostly civilians, and more than 160 Israelis, mostly soldiers.