Brent (BFO) back above $75 on Monday methinks from $73.30. So far since the market closed on Friday: Venezuela threatened to cut oil exports to US if the US continues to threaten Venezuela (i.e. Chavez). Then Iran rejected the terms of the nuclear agreement it was mulling over as presented to it earlier this month. Then Rice's "peacemaking" trip was shot (or should I say bombed) to s**t on because of Qana with the Lebanese telling her to go to hell. So we have Venezuela rhetoric, probably a 3/10 on a scale of 1-10 in terms of effect, Iran rejecting the latest nuclear proposals probably a 7/10 on a scale of 1-10 and the Qana bombing, probably a 7/10 in terms of psychological effect and 3/10 in terms of true threat to physcial supplies. Opinions? Update: A mitigating factor might be the 48 hour air activity halt. I guess that just means ground raids. Also Israel reserves the right to attack any target it deems threatening. Not sure what that means. After the 48 hours I think they'll hit with extreme force from the air.