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The ongoing tensions in the Middle East escalated further as US President Joe Biden revealed discussions regarding potential Israeli strikes on Iranian oil facilities. This revelation, made just a month before the US presidential election, sent shockwaves through the global market, causing oil prices to surge by five percent. The potential for a military escalation in the region poses a significant risk to the global economy, particularly at a time when the cost of living is a major concern for American voters.
Despite the escalating tensions, Biden asserted that he does not anticipate immediate retaliation from Israel, despite Israeli Prime Minister Benjamin Netanyahu's recent disregard for calls for restraint. Netanyahu's recent focus on targeting the Iran-allied Hezbollah militia in Lebanon has raised concerns about a wider conflict. Biden emphasized that while the US advises Israel, it does not control their actions, further highlighting the complexity of the situation. The potential for a retaliatory strike from Israel could further destabilize the region and lead to a significant escalation of the conflict.
The recent missile attack launched by Iran on Israel, involving approximately 200 rockets, triggered a heated response from Netanyahu, who vowed retaliation against Tehran. Iran cited the attack as a response to the killing of Hassan Nasrallah, the leader of Hezbollah, an incident that further inflamed tensions. The escalation of hostilities between Israel and Iran, spurred by the ongoing conflict between Israel and Hamas, has created a volatile environment in the region, with the potential to significantly impact global energy markets and international relations.
Source: "Discussing" Possible Israel Strikes On Iran Oil Facilities, Says Biden