Potential Israeli strikes on Iran spark oil price surge

AFP | Washington

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President Joe Biden revealed ongoing discussions about potential Israeli strikes on Iranian oil facilities, a statement that caused oil prices to surge yesterday, just weeks ahead of the U.S. presidential election. Speaking at the White House, Biden clarified that he did not expect Israel to retaliate for Tehran’s recent missile attacks on Israel before yesterday.

When asked if he backed Israel in targeting Iran’s oil infrastructure, Biden responded, "We’re discussing that. I think that would be a little... anyway." His comments triggered a five percent spike in oil prices, driven by growing concerns over Middle Eastern tensions.

This rise in oil prices could pose significant political challenges for Biden's running mate, Vice President Kamala Harris, as the Democratic ticket faces off against Republican candidate and former President Donald Trump in the upcoming November 5 election.