A rise in oil prices intensified Thursday after President Biden suggested that U.S. officials are considering whether to support an Israeli strike on Iranian oil facilities. New York-traded crude rose 5.

The president was asked about a potential strike on the oil infrastructure of Iran, which accounts for about 2 percent of the world’s supply.

Oil prices climbed more than 3% on Wednesday as Israel and the United States vowed retribution over Iran's biggest ever direct attack on its regional adversary, firing more than 180 ballistic missiles.