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 is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter. Email Matthew at mcranston@afr.com
Hans van Leeuwen covers British and European politics, economics and business from London. He has worked as a reporter, editor and policy adviser in Sydney, Canberra, Hanoi and London. Connect with Hans on Twitter. Email Hans at hans.vanleeuwen@afr.com
