Absolutely.
You're correct that nothing in the Middle East can be seen in isolation. We see the Israeli-Palestinian conflict as the very centre, the nucleus, of what radiates throughout the region. When Palestinians suffer and are internally displaced or become refugees, they go to neighbouring countries, which decreases stability for Jordan and Lebanon, in particular, and, of course, Egypt. There's a reason why these countries are absolutely central to coming up with a plan for a lasting peace in the region, and there's a reason why they are the ones that are the most intimately involved, along with the United States, at the negotiating table.