Biden discussing Israel blowing up Irans oil causing global spike in crude prices

WASHINGTON — President Biden said Thursday that the US is “discussing” the possibility of Israel bombing Iranian oil facilities as payback for a volley of nearly 200 rockets fired at the Jewish state on Tuesday — causing a spike in global crude prices.Biden said the oil strike option was under consideration when asked directly by a reporter as he left the White House.“We’re discussing that.I think that would be a little… anyway,” the retiring 81-year-old president said, trailing off before boarding Air Force One for a day-trip to Florida and Georgia to tour damage from Hurricane Helene.Within 45 minutes of Biden’s remark, crude oil futures spiked to about $74 per barrel from its opening price of $70.10, before settling back to around $73.When a reporter asked Biden if he would allow Israel to retaliate against Tehran, Biden said, “First of all, we don’t ‘allow’ Israel.

We advise Israel.And there is nothing going to happen today.”In a similar exchange Wednesday, Biden told reporters that he opposes a hypothetical Israeli strike on Iran’s nuclear facilities to prevent Tehran from developing atomic weapons, which the theocratic regime is believed to be close to doing.A strike on Iran’s oil could result in significant environmental impacts, including a surge in greenhouse gas emissions — creating a potentially awkward political situation for Biden, who has blamed such emissions for the deadly hurricane strike on the Southeast.However, the US did not take action to deter or sanction Ukraine’s government for allegedly blowing up Russia’s Nord Stream 2 pipeline in the Baltic Sea in 2022, which caused methane emissions equivalent to several days’ worth of normal global consumption of fossil fuels.The White House has vowed to punish Iran for its latest attack on Israel — which follows a similar barrage in April — but has not committed to more tightly enforcing sanctions on Iran’s lucrative oil exports.Oil exports by Iran are up...