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Flashpoint Mideast: How Bad Will It Get?

Tensions between Israel and Hamas appear to be near a boiling point.

Late in the day, Israel signaled a ground operation may be imminent as forces moved toward the border area.

At least 12 trucks were seen transporting tanks and armored personnel carriers, and a number of buses carrying soldiers arrived.

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Israeli Defense Minister Ehud Barak said he had authorized the army to call-up additional reservists for possible action. The army said it was prepared to draft up to 30,000 additional troops.

Recent fighting in the area, the heaviest in four years, has already killed 15 Palestinians in two days and brought life to a standstill on both sides of the border.

In a live interview on CNBC's Fast Money, George Friedman the CEO of global intelligence firm Stratfor said the odds of armed conflict are now pretty high.

"The problem is Hamas now has a missile that can reach Tel Aviv and that's unacceptable to Israel."

And he says the conflict could get ugly. "Israel doesn't know how many they have or where they're located – that means Israel will have to go in on the ground.

As serious as events sound, it doesn't necessarily mean the price of oil will spike.

"Events are happening 1000 miles away from oil fields and it shouldn't cause any disruption," said Friedman. "If Iran gets involved then we might see a supply disruption but so far it appears to be isolated."

Posted by CNBC's Lee Brodie




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Trader disclosure: On November 15, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders; Karen Finerman Is Long AAPL; Karen Finerman Is Long JPM; Karen Finerman Is Long WMT; Karen Finerman Is Long TGT; Karen Finerman Is Long MSFT; Karen Finerman Is Long GOOG; Karen Finerman Is Long M; Karen Finerman Is Long FL; Karen Finerman Is Long JCP; Jon Najarian Is Long AAPL; Jon Najarian Is Long TGT; Jon Najarian Is Long FB; Jon Najarian Is Long LGF; Jon Najarian Is Long RHT; Jon Najarian Is Long GRPN; Jon Najarian Is Long CCL; Jon Najarian Is Long LRCX; Jon Najarian Is Long GLOU; Jon Najarian Is Long STSI; Jon Najarian Is Long CME; Jon Najarian Is Long CBOE; Guy Adami Is Long C; Guy Adami Is Long GS; Guy Adami Is Long INTC; Guy Adami Is Long MSFT; Guy Adami Is Long AGU; Guy Adami Is Long NUE; Guy Adami Is Long BTU; Steve Grasso is long ACI; Steve Grasso is long AET; Steve Grasso is long ASTM; Steve Grasso is long AUO; Steve Grasso is long BA; Steve Grasso is long BTU; Steve Grasso is long CLF; Steve Grasso is long F; Steve Grasso is long LF; Steve Grasso is long LNG; Steve Grasso is long MHY; Steve Grasso is long P; Steve Grasso is long NVIV; Steve Grasso is long PFE; Steve Grasso is long S; Steve Grasso is long WYNN

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