WASHINGTON—Oil’s surge past $100 a barrel after Russia’s attack on Ukraine intensifies the economic troubles confronting President Biden, whose administration has been struggling for months to reel in rising inflation.
Benchmark U.S. oil futures ended higher Thursday, settling at $92.81, up 0.8% on the day. With prices at their highest since 2014, Mr. Biden said he was prepared to release more oil from the government’s Strategic Petroleum Reserve if necessary.
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