The inevitability of a strike by Israel on Iran in the face of Iranian intransigence over its nuclear weapons programme is strengthened today with news of new US deployments to the region. Iran's well-developed range of missiles, including the Shahab and Fajr as well as the ubiquitous Scuds, have the reach to hit major oil-producers in the region with the potential of a disruption to supplies out of proportion to the actual damage. The supposition is that once Israel launches its attack on Iran's nuclear facilities, Iran will mass-launch its missile capability not only at Israel but at other US-friendly states in the region.
News that Obama has authorised Patriot anti-missile missiles to be deployed in Qatar, UAE, Bahrain and Kuwait (they're already established in Saudi and Israel) in addition to stationing anti-missile warships in the gulf will signal strongly to Iran that the US is behind a forthcoming Israeli strike, and ready to help limit the fallout. And protect its oil supply.
The effects of Israeli-US action on the UK election campaign can only be guessed. Whatever the best course of action for the UK, Brown and Banana Boy are unlikely to take it, and the EU's foreign minister, Nanny Ashton, is about as effective as a chocolate teapot.
My own view is that we should keep out of it. And be as ready as we can to ensure our own oil supplies to limit the damage on our crippled economy.