Oil prices jumped today rallying to close at the week on rising mid east tensions. The conflict in Israel is not expected have a major impact on oil and gas supplies but market participants are assessing how it could escalate to a broader regional conflict and what problems that could cause. If the U.S. tightens enforcement of sanctions on Iran’s oil exports due to any role it may have in the conflict, then Iran’s oil supply could fall. Meanwhile OPEC this week kept its forecast for growth in global oil demand the same citing signs of a resilient world economy so far this year and expected further demand gains in China, the world’s biggest oil importer. WTI traded up $4.78 or 5.8% to close at $87.69.Brent traded up $4.89 or 5.7% to close at $90.89.