A a report In Walla News weighs heavily on oil.
It is said that:
Prime Minister Benjamin Netanyahu and US President Joe Biden made significant progress during their phone call on Wednesday in reaching an understanding on the scope of Israel’s planned retaliatory action against Iran, according to three senior US and Israeli officials.
It also says US officials may travel to Israel next week to continue discussions, so it appears the timeline will be pushed back.
Barak Ravid notes that “a senior American official told me that the administration is ‘a little less concerned’ about Israel’s response against Iran in the wake of the Biden-Netanyahu call” and that “we are moving in the right direction.”
The White House seeks to limit Israel’s response to military and intelligence operations and not strike oil or energy infrastructure.
The source said, “The response that Israel is planning is still a little more severe than what the White House would like to see.”
Of course, this could just be a smokescreen because a national security operations leak is hardly an actual “leak.”
However, it bears the stamp of truth, and few believe Biden wants to see a spike in gasoline prices or a broader war before the election. So far the reaction to this report has been less than I expected, despite the oil price falling by about 30 cents.
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