Ian Bremmer shares his insights on global politics this week on World In :60.

Is Israel and Hezbollah on the brink of all-out war?

Certainly hope not. You made me bet I'd say no. Keep in mind, oil prices haven't moved despite the fact that everyone's talking about all-out war. Certainly the Israeli government and the Israeli defense forces are talking about all-out war after Hezbollah, rocket strikes, which they denied, but clearly did come from them and killed some 11 children in the Israeli-occupied Golan Heights. Having said that, Netanyahu, the Israeli Prime Minister, who is very, very strident in wanting to ensure that the Gaza war continues until Hamas is fully destroyed, has been very cautious about starting a war with a Hezbollah that is far better armed and trained than Hamas is. So on the one hand, they do want to brush Hezbollah back. They want to cause more damage to them. They want to get the Hezbollah forces away from the Israeli border so the Israelis can come back to their homes, to their schools. On the other hand, I think the likelihood of all-out war is actually pretty low. And I think that's why oil prices are haven't moved since all this, because markets also don't believe this is coming.