• Crude Oil trade over 1% higher on Thursday as traders look at the escalating conflict between Israel and Iran.
• Traders sent Oil prices higher after Iran sent ballistic missiles into Israel as retaliation for the Lebanon ground incursion. 
• The US Dollar Index is heading into its fourth day of consecutive gains.

Crude Oil jumps another 1%  on Thursday as tensions in the Middle East continue to run high and despite the surprise buildup in US inventories. Traders try to assess what the next step could be in the standoff between Israel and Iran,  either further escalation or easing in tensions. Meanwhile, the unexpected buildup in US Crude stockpiles on Wednesday was completely ignored by markets. 

The US Dollar Index (DXY), which tracks the performance of the Greenback against six other currencies, is set for a fourth straight day of gains and is testing the September high at 101.90. Another big batch of data will be released on Thursday, with special importance to the Institute for Supply Management (ISM) numbers for the Services sector. The weekly Jobless Claims will also be closely watched in the light of the Nonfarm Payrolls number on Friday.