Oil Prices Surge Amid Rising Middle East Tensions and Biden's Comments
In a single day, the cost of crude oil jumped by 5%, following a speech from US President Joe Biden
US President Joe Biden endorsed Kamala Harris as the Democratic nominee to challenge Republican Donald Trump in the upcoming presidential race, declaring her the best hope for safeguarding American democracy. During his nearly hour-long speech at the party convention, Biden emphasized Harris’s qualifications to lead the country. In a surprising moment, Harris joined Biden on stage for a hug after his address, which had been expected just a month ago to mark his acceptance of a second-term nomination.
Hillary Clinton, who lost to Trump in the 2016 election, symbolically passed the torch to Harris, praising her character, experience, and vision to move the nation forward.
Biden was the focal point of the convention’s first day, which concluded early this morning Bulgarian time. He received a standing ovation as he took the stage. In what seemed to be a farewell speech to the party, Biden said, "I love the job, but I love my country more. I gave it my best."
During her address at the 2024 Democratic National Convention in Chicago, First Lady Jill Biden spoke about President Joe Biden's decision last month not to seek reelection. She described how she witnessed him "dig deep into his soul" before making this choice. Jill Biden expressed confidence in the new Democratic ticket, led by Vice President Kamala Harris and Minnesota Governor Tim Walz, urging everyone to rally behind them. "Kamala and Tim, you will win," she said, adding that they are inspiring a new generation.
Jill Biden also paid tribute to her late son, Beau Biden, recalling how he had once described Harris as someone special, worth watching closely. She praised her husband's leadership, reflecting on their journey together from raising their children to his rise from vice president to president. As she spoke, the crowd at the convention, holding up green "JILL" signs, gave her a standing ovation.
Earlier in the evening, Senator Chris Coons of Delaware spoke before Jill Biden. The event also featured former US Secretary of State Hillary Clinton, who strongly endorsed Kamala Harris, stating that the "future is here" and emphasizing the significance of Harris's leadership for the country. Clinton reminisced about her 2016 presidential campaign and the nearly 66 million Americans who voted for a future without limitations on dreams. She encouraged Harris to keep moving forward, a sentiment echoed by the crowd, which chanted "Keep going" in support.
As the Democratic National Convention continues, notable speakers include former US President Barack Obama, who is set to address the convention with a focus on "A Bold Vision for the Future." On Wednesday, former President Bill Clinton and Speaker Emerita Nancy Pelosi of California will speak under the theme "A Fight for Freedom." Additionally, Second Gentleman Doug Emhoff, Senate Majority Leader Chuck Schumer, and House Minority Leader Hakeem Jeffries are expected to deliver remarks.
Kamala Harris, who has formally secured the Democratic nomination for president after President Biden's withdrawal, will take the stage on Thursday to officially accept the nomination. Her running mate, Tim Walz, will also formally accept the vice-presidential nomination on Wednesday. Harris, the first Asian American woman and Black woman to head a major party ticket, will arrive at the convention after a bus tour through Pennsylvania and plans to hold a rally in Milwaukee, the same city where Donald Trump accepted the Republican presidential nomination last month.
As the first night of the convention kicked off, Harris expressed her gratitude to President Biden for his historic leadership and lifetime of service. She emphasized that the nation remains "forever grateful" to him. The event also highlighted Harris's roots in California and the significant influence of her mother, Shyamala Gopalan, in her upbringing. Harris's official nomination was confirmed through a virtual vote last month, bringing the Democratic Party together in support of her candidacy.
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