Washington, London | US President Joe Biden triggered a powerful surge in global oil markets on Thursday (Friday AEST) after suggesting that Iran’s oilfields might be the target of any Israeli retaliatory attack.
The price of West Texas Intermediate jumped more than 5 per cent, nearing $US74 a barrel, after President Biden said Israel and the US were “discussing” a strike on Iranian oil facilities.
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Matthew Cranston was The Australian Financial Review’s United States correspondent.
Hans van Leeuwen is international economy editor for The Telegraph UK. He was previously The Australian Financial Review’s Europe correspondent.
