Oil Prices Jump After Biden Hints at Possible Israeli Strikes On Iranian Oil Sites

Oil prices jumped across the globe after US President Joe Biden hinted at potential Israeli strikes on Iranian Oil Sites. Biden said that he was discussing possible Israeli strikes. The potential Israeli attack would be in response to Iran’s missile strike on Tel Aviv on October 1. Iran launched 200 missiles toward Israel. The attack was in retaliation to Hezbollah chief Hassan Nasrallah's killing in Beirut. Iran has also warned Israel against any further retaliation. Rising fears of a full-blown war in West Asia have shaken the markets. According to market analysts, Israel’s retaliation could catapult oil prices skyward.

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