Israel will not attack Iran’s oil or nuclear facilities ahead of the US election, Benjamin Netanyahu, the Israeli prime minister, reportedly told Joe Biden.

The price of oil fell after The Washington Post reported that Israel’s response would be relatively restrained and focus on Iran’s military bases.

Mr Biden, the US president, had advised Israel not to strike nuclear or oil plants, fearful of a spike in oil prices that could swing the election against the Democrats.

Israel’s response will be carried out before the US election on Nov 5, two sources told The Post.