Oil rose by nearly $3 on Tuesday after the International Energy Agency revived concerns about long-term supply shortages and tension between Israel and Iran raised fears about possible outages in the much nearer term.
Speculation has mounted that Israel plans to attack Iran's nuclear facilities, which Iran says are for purely peaceful purposes, following a big Israeli air force exercise last month.
Iran's Revolutionary Guards said Iran would impose controls on shipping in the Strait of Hormuz if the country were attacked, a newspaper reported at the weekend.
Roughly 40 percent of the world's traded oil moves through the narrow waterway separating Iran from the Arabian Peninsula.
And that leads to our "Fast Money" Reader Poll. Do you think a third power should intervene in the growing tension between Israel and Iran? See what people are saying!
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