After US military forces helped Israel bat down a barrage of some 300 Iranian missiles and drones on April 13, Biden reportedly urged Israeli Prime Minister Benjamin Netanyahu to “. Oil prices rose in anticipation of the Iranian strike, as American officials warned it was coming. But they stabilized after the attack itself amid hopes that the first overt shootout between Israel and Iran would wind down without disrupting energy supplies.
“Election year political dynamics could discourage the Biden administration from tightening oil sanctions enforcement against Iran … because doing so could raise pump prices,” ClearView Energy Partners assessed in an April 14 analysis. The research firm estimates that a modest revival of sanctions against Iranian oil sales could raise oil prices by about $8.50 per barrel and US gasoline prices by about $0.20 per gallon.
As it stands, oil and gasoline prices are at what you might call worrisome but not ruinous levels for Biden. In 2022, US crude peaked at slightly more than $120 per barrel, sending gas prices to $5 per gallon. Oil prices have been under $80 for much of the past year, and they settled at around $85 after the Iranian attack. Gas prices went as low as $3.20 per gallon at the start of 2024, though they’re now back to about $3.65.
Photo by Jabin Botsford-Pool/Getty ImagesThe Manhattan District Attorney’s Office wants the judge overseeing the first trial against a former American president to start it off with a lunging attack, asking the court to personally sanction Donald Trump for his verbal onslaught against witnesses in the case.
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