FT: Oil surges after Joe Biden’s comments on Israeli retaliation
The recent surge in oil prices was driven by heightened tensions between Israel and Iran, raising concerns over potential disruptions in the Middle East. US officials are urging a measured response from Israel to prevent regional escalation. Despite discussions of a possible strike on Iran's oil industry, President Biden has emphasized restraint. G7 leaders also called for all parties to act responsibly and avoid further conflict, aiming to maintain stability in the region.
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By James Politi and Felicia Schwartz in Washington and Henry Foy in Brussels
US officials believe response to Iranian strike will be measured enough to avoid escalation
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