Oil prices shot up again Thursday as all eyes remain on Israel and Iran.Energy stocks have also gotten a boost due to the escalation of tension in the Middle East. Big Oil stocks rallied Thursday, even as the broader market fell.

The president was asked about a potential strike on the oil infrastructure of Iran, which accounts for about 2 percent of the world’s supply.

It is estimated that "if you were to see a sustained 1 million barrels per day drop in Iranian production, that you would see a peak boost to oil prices next year of around $20 per barrel," Daan Struyven, Goldman Sachs' co-head of global commodities research, told CNBC's "Squawk Box Asia" on Friday.