US: Biden urges Israel to avoid striking Iran's oil fields amid Netanyahu's retaliation missile attack

Amid the ongoing conflict, oil prices have fluctuated sharply, with West Texas Intermediate oil prices initially surging before stabilizing after Biden’s comments. In the wake of discussions about potential Israeli strikes on oil facilities, oil jumped 5% on speculation that supply lines could be disrupted.

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In a missile assault earlier this week, Iran fired 200 ballistic missiles at Israeli targets, causing minimal damage due to Israel’s missile defense system. (X/MarioNawfal)

World News: As tensions in the Middle East rise, President Joe Biden has urged Israel to avoid escalating the situation by attacking Iran's oil infrastructure in response to a missile barrage from Iran. Speaking at the White House, Biden acknowledged Israel's need to retaliate, as Prime Minister Benjamin Netanyahu has vowed. However, Biden cautioned against striking oil facilities, which could further destabilize the region and have global economic consequences.

In a missile assault earlier this week, Iran fired 200 ballistic missiles at Israeli targets, causing minimal damage due to Israel’s missile defense system. Despite this, Netanyahu has promised a retaliatory strike, though the exact timing remains unclear. Biden emphasized exploring alternatives, stating, “If I were in their shoes, I’d be thinking about other alternatives than striking oil fields.”

Oil prices witness sharp inflation 

Amid the ongoing conflict, oil prices have fluctuated sharply, with West Texas Intermediate oil prices initially surging before stabilizing after Biden’s comments. In the wake of discussions about potential Israeli strikes on oil facilities, oil jumped 5% on speculation that supply lines could be disrupted. Former President Donald Trump criticized Biden’s cautious approach, calling for immediate strikes on Iran’s nuclear infrastructure.

“The answer should have been hit the nuclear first; we’ll worry about the rest later,” Trump remarked at a North Carolina town hall. As Israel continues its campaign against Hezbollah in southern Lebanon, Iran has called for a conditional cease-fire, signaling potential diplomatic moves. However, Israel remains resolute, having already killed 250 Hezbollah militants this week.

War has no stoppage!

Meanwhile, Israel has also intensified its military operations in Lebanon, launching airstrikes against Hezbollah positions in Beirut and southern Lebanon. Recent reports indicate that Israeli jets targeted key infrastructure and militant hideouts, leading to significant casualties. Over 1,500 individuals have been killed in these airstrikes, with more than 1 million people displaced. This escalation reflects Israel's determination to eliminate perceived threats from Hezbollah, which has been accused of launching rocket attacks into Israeli territory in solidarity with Hamas.