Oil surges after Joe Biden’s comments on Israeli retaliation

Oil prices surged to over $77 per barrel on Thursday due to speculation of potential Israeli retaliatory strikes against Iran’s oil industry following a missile attack on Israel. US President Biden discussed the possibility of supporting Israel but emphasized the need for restraint to avoid uncontrollable escalation in the Middle East. Concerns are growing about Israel’s actions and the US’s influence, as fears of an expanding conflict persist, with Iran vowing to respond to Israeli strikes.

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