While the price of crude closed in New York today at $76.60, the shouting is far from over. Forward contracts are already trading at $80 plus, and I don’t think Friday is going to be a good day.

Reason? Israel’s attacks on Lebanon, which came after Hezbollah forces apparently fired some 80 rockets into Israel earlier in the day.

Oh, and if you were planning on flying into Beirut tomorrow, I would suggest you contact your travel agent and make other arrangements.