Middle East Crisis

Everyone is worried about the rising number of casualties involved in the recent Middle East crisis - the crossfire between Isreal and Lebonon (Hizbollah). There is really no point in accusing who was/ is at the wrong at the moment; when there is a war, both parties are to be blamed for the number of lives they have hurt and sacrificed. What i am amazed about, is the low level of coverage on the financial impact of this middleast crisis from the singapore journos or maybe i have not been following up with the news closely enough such that i've missed out articles on how the (sharply) increasing oil prices may affect our economy making it more volatile than ever?

Some say, a spike in oil prices is usually the last stage before a recession, though it may only be a predicted outcome and no one will want to see this happen but i fear the cyclical economy wave is going to wash the good times down. Well, it may or may not be the repercussion of this war depending on how fast the UN / US can work out a resolution for both and whether or not the conflict will be self-contained by not spreading to Iran or syria. I Hope the ceasefire will stop sooner enough so that more lives wont have to suffer. To me, a financial crisis is in fact more frightening than the actual war itself.

Sigh.