Global oil prices fell after Mr Biden suggested on Thursday (Friday morning US time, Australian Eastern time) that US and Israeli officials were discussing a possible Israeli attack on Iranian oil facilities. rose.
“We’re discussing it,” Biden told reporters.
Without finishing his thought, he added, “I guess it’s a little, but anyway.”
Biden also said he did not expect Israel to immediately retaliate against Iran.
Iran is a major oil producer, and it is important to note that the escalation of fighting in the Middle East could not only disrupt Iran’s oil supply to China, but also impact neighboring countries vital to the flow of oil. There are concerns.
But what’s helping keep prices down is a signal that oil supplies remain plentiful for now.
Brent crude oil futures rose $3 to settle at $77 ($112) per barrel following Biden’s comments.
Gasoline prices have also risen in some parts of Australia in recent days.
The average price of unleaded 95 petrol in New South Wales rose to 194 cents last week.
The upcoming long weekend means motorists could see further fuel price hikes, with prices well above $2 a liter seen across Sydney and Brisbane on Friday afternoon.
The data also revealed that 45% of Sydney petrol stations remain at the high end of the petrol price cycle for an extended period of time, setting the highest possible prices.
– Co-sponsored with Associated Press.
