Oil Prices Fall as Trump Considers Easing Sanctions on Shadow Fleet Tankers
Crude oil prices retreated from yesterday’s highs earlier today, on the news that President Trump was considering lifting sanctions on tankers used to transport oil and fuels from Venezuela, Russia, and Iran in a bid to ease a deepening tanker crunch. At the time of writing, Brent crude was trading
Source: OilPrice.com
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DW NOTE
Trump floated easing sanctions on shadow fleet tankers while the Strait of Hormuz sits effectively closed and oil just posted its strongest week in months. Lifting restrictions on the vessels that circumvent Western embargoes would add supply at precisely the moment geopolitical risk is tightening it — which explains why crude sold off despite escalating Middle East tensions.