President Biden's recent comment on the potential U.S. support for Israel striking Iran's oil facilities has sent shockwaves through the market, causing WTI crude to spike 5%. However, the nuance of his statement suggests there's still uncertainty, and it could be walked back.
Key Points:
Biden was asked whether the U.S. would support Israel in striking Iran's oil facilities.
His response: "We're discussing that. I think that would be a little... anyway." This implies it's under consideration but not confirmed.
He further clarified: "Nothing will happen today." This suggests any decision is not immediate.
â ïž Market Impact:
WTI crude jumped 5% on the initial comment.
Speculation around potential U.S.-Israel coordination on Iran could keep energy markets volatile.
đ What to Watch For:
Any official clarification from the U.S. administration.
Oil markets will be highly reactive to any developments.
đŹ Whatâs your take? Will oil prices continue to rally? Share your thoughts, tip, or comment below!
