US crude oil jumps as Biden comments on possible Israel retaliation against Iran

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US crude oil jumps as Biden comments on possible Israel retaliation against Iran

U.S. crude oil prices rose about 5% on Thursday, posting a third consecutive session of gains on fears that Israel could strike Iran’s oil industry in retaliation for Tehran’s ballistic missile attack this week.

President Joe Biden was asked by reporters Thursday morning whether the U.S. would support an Israeli strike on Iranian oil facilities. Biden said: “We’re discussing that. I think that would be a little – anyway.” The president added that “there’s nothing going to happen today.”

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