How should the U.S. approach its relations with Israel in light of developments in the Middle East

The Middle East is important to the United States. We get most of our oil from the region and investment from the Arab states is of growing importance in our economy. The United States strongly supports Israel, but also has had dealings with Palestinian political groups. US leadership in conflicts with and in Iraq and tense relations with Iran and Syria add to the muddled situation. Further complicating matters is the changing role of Russia in the region and our relationship with that nation. Finally, relations with the European Union and NATO necessarily influence how we deal with the Israel-Palestine question and other issues rising in the Middle East. How should the U.S. approach its relations with Israel in light of developments in the Middle East?