{"id":110390,"date":"2024-10-04T18:36:45","date_gmt":"2024-10-04T11:36:45","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=110390"},"modified":"2024-10-04T18:36:45","modified_gmt":"2024-10-04T11:36:45","slug":"oil-surges-after-joe-bidens-comments-on-israeli-retaliation","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=110390","title":{"rendered":"Oil surges after Joe Biden\u2019s comments on Israeli retaliation"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div id=\"article-body\">\n<p>Oil prices soared to their highest level in more than a month on Thursday as traders speculated that Israel could engage in retaliatory strikes against Iran\u2019s oil industry. <\/p>\n<p>Brent crude rose by more than 5 per cent to settle at $77.62 per barrel after US President Joe Biden told reporters that such a move was under discussion in response to Tuesday\u2019s missile attack on Israel by Iran. The rise continued on Friday, with Brent up 1.6 per cent at $78.85.<\/p>\n<p>Asked whether the US would support Israel striking Iran\u2019s oil facilities, Biden said: \u201cWe\u2019re in discussion of that,\u201d although in his truncated comment the US president went on to say: \u201cI think that would be a little\u2009.\u2009.\u2009.\u2009anyway.\u201d <\/p>\n<p>In recent days, senior US officials have held a series of conversations with top Israeli officials, as the US and western allies try to limit the scope of Israel\u2019s response and prevent a broader regional conflict.<\/p>\n<p>US officials believe Israel\u2019s retaliation will be measured enough to avoid triggering new rounds of escalation across the Middle East. <\/p>\n<figure class=\"n-content-image n-content-image--full\" data-component=\"image-set\"><picture><source media=\"(min-width: 700px)\" srcset=\"https:\/\/www.ft.com\/__origami\/service\/image\/v2\/images\/raw\/ftcms%3A47785b67-8b6b-43c0-ba92-1a03ebc0c89e?source=next-article&amp;fit=scale-down&amp;quality=highest&amp;width=700&amp;dpr=1 1x,https:\/\/www.ft.com\/__origami\/service\/image\/v2\/images\/raw\/ftcms%3A47785b67-8b6b-43c0-ba92-1a03ebc0c89e?source=next-article&amp;fit=scale-down&amp;quality=highest&amp;width=700&amp;dpr=2 2x\" width=\"1400\" height=\"1000\"\/><source media=\"(max-width: 490px)\" srcset=\"https:\/\/www.ft.com\/__origami\/service\/image\/v2\/images\/raw\/ftcms%3Aeb0ae7c4-038c-4ca7-8863-d0bbc07a9924?source=next-article&amp;fit=scale-down&amp;quality=highest&amp;width=490&amp;dpr=1 1x\" width=\"600\" height=\"800\"\/><img decoding=\"async\" src=\"https:\/\/www.ft.com\/__origami\/service\/image\/v2\/images\/raw\/https%3A%2F%2Fd6c748xw2pzm8.cloudfront.net%2Fprod%2Feff13ec0-81c5-11ef-b029-111a2e18a955-standard.png?source=next-article&amp;fit=scale-down&amp;quality=highest&amp;width=700&amp;dpr=1\" alt=\"Column chart of Daily % change, $ per barrel showing Biggest jump in Brent crude this year\" data-image-type=\"graphic\" width=\"1400\" height=\"1000\" loading=\"lazy\"\/><\/picture><\/figure>\n<p>One US official said Israeli officials want to send a strong signal to Iran while hoping to put a lid on the conflict. The US official cautioned that no final decisions had been made by Israel.<\/p>\n<p>The guarded confidence that Israel will moderate its response comes as Biden and western allies have publicly stated they oppose any strike on Iranian nuclear facilities. <\/p>\n<p>On Thursday, G7 leaders called on Israel and Iran to avoid an \u201cuncontrollable escalation\u201d in the Middle East in a joint statement.\u00a0<\/p>\n<p>\u201cA dangerous cycle of attacks and retaliation risks fuelling uncontrollable escalation\u00a0in the Middle East, which is in no one\u2019s interest,\u201d they said. <\/p>\n<p>\u201cWe call on all regional players to act responsibly and with restraint. We encourage all parties to engage constructively to de-escalate\u00a0the current tensions,\u201d the leaders added.\u00a0<\/p>\n<p>US and Israeli officials have been discussing the potential for Israeli strikes on military targets and energy infrastructure. The US official said Washington did not expect to participate in the strikes. <\/p>\n<p>At the same time, concern is growing among US allies that Washington is struggling to influence the Israeli government led by Prime Minister Benjamin Netanyahu. <\/p>\n<p>One European diplomat said Israel had been asked to stop short of an attack on Iran\u2019s oil or nuclear infrastructure but there was no guarantee the country would meet that request.<\/p>\n<p>A second senior EU diplomat said: \u201cIt\u2019s depressing to see how little influence we have on these events\u2009.\u2009.\u2009.\u2009It injects some pessimism, some fatalism into our discussions on it.\u201d<\/p>\n<figure class=\"n-content-image n-content-image--full\" data-component=\"image-set\"><picture><source media=\"(min-width: 700px)\" srcset=\"https:\/\/www.ft.com\/__origami\/service\/image\/v2\/images\/raw\/ftcms%3A51cb23f0-0918-4a58-9312-15eedee37673?source=next-article&amp;fit=scale-down&amp;quality=highest&amp;width=700&amp;dpr=1 1x,https:\/\/www.ft.com\/__origami\/service\/image\/v2\/images\/raw\/ftcms%3A51cb23f0-0918-4a58-9312-15eedee37673?source=next-article&amp;fit=scale-down&amp;quality=highest&amp;width=700&amp;dpr=2 2x\" width=\"1459\" height=\"1000\"\/><source media=\"(max-width: 490px)\" srcset=\"https:\/\/www.ft.com\/__origami\/service\/image\/v2\/images\/raw\/ftcms%3A421bcc3a-6fb1-4d73-9b55-be2e7929f6fc?source=next-article&amp;fit=scale-down&amp;quality=highest&amp;width=490&amp;dpr=1 1x\" width=\"625\" height=\"1666\"\/><img decoding=\"async\" src=\"https:\/\/www.ft.com\/__origami\/service\/image\/v2\/images\/raw\/https%3A%2F%2Fd6c748xw2pzm8.cloudfront.net%2Fprod%2Fe99e0b40-81b4-11ef-bf04-7f818560086a-standard.png?source=next-article&amp;fit=scale-down&amp;quality=highest&amp;width=700&amp;dpr=1\" alt=\"Satellite photos comparing Nevatim air base on August 3 2023 and October 2 2024. The latter photo shows signs of damage\" data-image-type=\"graphic\" width=\"1459\" height=\"1000\" loading=\"lazy\"\/><\/picture><\/figure>\n<p>On Thursday, Biden denied the US had a veto on Israel\u2019s actions, while adding that no immediate Israeli response was expected on Thursday. \u201cWe don\u2019t \u2018allow\u2019 Israel. We advise Israel. And there\u2019s nothing going to happen today,\u201d the US president said. <\/p>\n<p>Biden\u2019s comments come amid fears of an expanding war. Israel began a ground invasion of Lebanon on Tuesday after weeks of intense bombing, while maintaining its nearly year-long war in Gaza.<\/p>\n<p>After Tehran fired almost 200 ballistic missiles at Israel on Tuesday evening in retaliation for the attacks on Iran-backed Hizbollah, and the killing of its leader Hassan Nasrallah, Israel vowed to respond. <\/p>\n<p>On Thursday Israel launched multiple air strikes on Beirut, killing at least nine people at a Hizbollah-linked medical facility in the heart of Lebanon\u2019s capital, and targeting a building used by the militant group\u2019s media office. <\/p>\n<p>The US\u2019s stated goal for months has been to broker a ceasefire deal between Israel and Hamas that would end the war in Gaza, and recently it has been pushing for a truce between Israel and Lebanon as well. But both those efforts have broken down.<\/p>\n<p>This week, Kurt Campbell, deputy US secretary of state, acknowledged \u201cmoments of surprise\u201d over recent months in the relationship between the US and Israel. But, speaking at a virtual event hosted by the Carnegie Endowment for International Peace, he acknowledged \u201cmajor efforts on both sides to keep lines of communication open and to make sure that perspectives are understood\u201d. <\/p>\n<p>West Texas Intermediate, the US oil marker, also jumped following Biden\u2019s comments, settling at $73.71 on Thursday, up 5.2 per cent. It climbed to $74.84 on Friday.<\/p>\n<p>Iran exports around 1.6-1.8mn barrels per day of crude and condensate, of which 1.5mn b\/d goes to China, along with more than 0.5mn b\/d of oil products, according to Energy Aspects, a consultancy.<\/p>\n<p>Amrita Sen, director of research at Energy Aspects, said oil prices could be sent \u201cspiralling higher\u201d if Israel struck Iranian refineries and if Tehran responded by attacking other oilfields and refineries in the region.<\/p>\n<p>The global oil market has been volatile since the start of the week due to the escalating tensions, with potential disruptions to energy exports.<\/p>\n<p>However, lack of demand from China, as well as Opec+ producers sitting on more than 5mn b\/d of spare capacity which could be used if Iranian supply were cut, had weighed on the market.<\/p>\n<p><em>Additional reporting by Rafe Uddin and Shotaro Tani in London, and<\/em> <em>Myles McCormick in Houston<\/em><\/p>\n<p><em>Satellite visualisation by Hirofumi Yamamoto and Steven Bernard<\/em><\/p>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.ft.com\/content\/25f23a03-6ca2-4560-ae53-42ff17e9992a\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices soared to their highest level in more than a month on Thursday as traders speculated that Israel could engage in retaliatory strikes against Iran\u2019s oil industry. Brent crude &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=110390\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[],"class_list":["post-110390","post","type-post","status-publish","format-standard","hentry","category-world","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/110390","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=110390"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/110390\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=110390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=110390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=110390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}