US President Biden discourages Israel from attacking Iran's oil fields

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US President Biden discourages Israel from attacking Iran's oil fields - Business Standard

Quick Summary:

Biden said he was consulting with Netanyahu’s government as it decides how to respond to Tuesday’s attack, in which Iran fired about 200 ballistic missiles at targets across the country.

Biden got a sense for just how sensitive the markets have become a day before, when oil jumped by 5 per cent off comments in which he said the US was “discussing” possible Israeli strikes on energy facilities.Overall, crude soared 9.1 per cent this week — the biggest weekly advance since March 2023.

Israel has stepped up a campaign to eliminate threats from Hezbollah after almost of year of trading cross-border rocket fire, killing much of its top leadership and sending troops into southern Lebanon for the first time since a 2006 war.