The government coalition collapsed Friday after disagreements over the vacant defense minister post.
Avigdor Lieberman quit in protest over Prime Minister Benjamin Netahyahu's refusal to launch a military offensive into the Gaza Strip, calling for new elections.
Israeli military offensives in Gaza have usually led to spikes in Palestinian civilian casualties.
Like Israel, Saudi Arabia was one of the few nations to welcome Trump's decision to withdraw from the Iran nuclear deal.
Israel's defense minister warned drilling would be "a grave mistake," but Hezbollah vowed to "firmly confront any aggression on our oil and gas rights."
Former foreign minister Avigdor Lieberman sl has slammed the government for their stance on the Mohammed Allan case.
Israeli academics and politicians have called for an investigation to be opened into Lieberman's remarks.
Avigdor Lieberman said opponents of the Israeli state "deserve to have heads chopped off with an axe".
Israeli PM's controversial Washington address fails to cut Zionist Union's two-seat poll lead.
Four Palestinians have been arrested on suspicion of plotting to kill Israel's foreign minister