The glow on the left is not the UFO. That's a street light. The blue orb in the center of the screen is the UFO. As is always true with night imagery, it's impossible to tell much except that the light is blue and probably too bright to be a star.
Okay, we now have what appears to be the same event simultaneously recorded from not just two, but THREE vantage points, one of them appearing to be independent of the two videographers in this video. Here's a side-by-side comparason of the above video with the recording made by the individual in the foreground: http://tinyurl.com/6jtomhj
Here's a version including a translation from Hebrew of what the videographers are saying: http://tinyurl.com/4glxdqw
Plus the third entry, already posted in the Out There section: http://tinyurl.com/5r4kz8m