OIL PRICE INCREASE

Here are a few reasons oil jumped $10 in one day last week

1. Hawkish comments out of Israel on Iran
2. Unemployment increased .5% when a .1% increase was expected
3. The European Central Bank made some statement that were interpreted as meaning higher interest rates sooner rather than later. This lead to a weakening of the US$. Oil is priced in US$.
   

These are the key factors that most likely lead to last weeks oil price spike.

What are your thoughts?