U.S. officials suggest Israel’s response to Iranian attacks will be measured to prevent further escalation.
Oil prices experienced a significant jump on Thursday, reaching their highest levels in over a month, as speculation grew around the possibility of Israel launching retaliatory strikes on Iran’s oil infrastructure. This came after U.S. President Joe Biden hinted at the potential for such actions during discussions about Iran’s recent missile attack on Israel.
Brent crude, a major benchmark for oil pricing, spiked by more than 5%, closing at $77.62 per barrel. The surge followed President Biden’s remarks to reporters, where he confirmed that retaliation against Iran’s oil sector was being considered as a response to Tuesday’s missile strike.
When asked directly whether the U.S. would back Israel in targeting Iranian oil facilities, Biden responded, “We’re in discussion of that,” but appeared to downplay the likelihood of an immediate strike, saying, “I think that would be a little… anyway.”
In the days leading up to Biden’s comments, senior U.S. officials engaged in numerous conversations with Israeli leaders, as the U.S. and its Western allies work to manage Israel’s response and minimize the risk of a larger conflict in the region.
U.S. officials believe that Israel’s retaliation will be measured to avoid provoking a more extensive escalation across the Middle East. Their efforts are aimed at balancing Israel’s need for a strong response while preventing further destabilization in the region.
