The ongoing conflict in Israel is causing concerns in the energy market, particularly around the transportation of oil. Israel is not a major oil producer, but tensions with Iran, which controls the Strait of Hormuz, could impact the region's energy markets. The focus is on the price difference between Brent crude and West Texas Crude (WTI), with a narrowing spread indicating increasing demand for WTI. This could lead to record U.S. export numbers by year's end. Energy stocks like Exxon Mobil and Chevron are rallying, but also face geopolitical risks. Oil transportation companies like Teekay Tankers and Euronav NV could benefit from increased domestic production and export demand.