US EditionJapan to Consider Whether to Buy Russian Crude Following US Sanctions Waiver
Brent crude rose about 9% weekly despite U.S. license to ease supply; analysts say tensions and supply disruptions keep prices elevated.
- On Friday, global oil prices remained elevated despite the U.S. 30-day license allowing purchases of Russian oil at sea.
- Following the cargo policy, the U.S. Energy Department announced a release of 172 million barrels, coordinated with the IEA's record 400 million barrels, Bessent said.
- Market data showed Brent futures for May at $100.56 and U.S. WTI crude for April at $95.57, heading for weekly gains.
- Two fuel tankers in Iraqi waters were struck by explosive-laden Iranian boats, and Iraqi oil ports have halted operations while the U.S. Navy would escort vessels through the Strait of Hormuz when militarily possible, Bessent said.
- Market analysts cautioned that crude intermonth spreads show ongoing tightness and Brent is more supported than WTI due to Europe’s greater energy-security risks.
24 Articles
24 Articles
Temporary US sanctions waiver for Russian oil fails to cool crude prices above $100
The US Treasury Department's Office of Foreign Assets Control (OFAC) issued a 30-day general license on March 12 to purchase Russian crude oil and petroleum products loaded on vessels before that day.
Oil heads for weekly gains despite US sanctions waiver on Russian oil
Oil prices headed for weekly gains as of Friday, despite the US trying to ease supply concerns by issuing a 30-day license for countries to buy Russian oil and petroleum products stranded at sea. Brent futures for May rose $1.02, or 1 per cent, to $101.48 a barrel at 07:30 GMT, heading for a weekly increase of nearly 10pc. US West Texas Intermediate (WTI) crude for April was up by 94 cents, or 1.0pc, at $96.67 a barrel, poised for more than a 6p…
Channel News Asia
Sada El baladJapan to consider whether to buy Russian crude following US sanctions waiver
TOKYO, March 13 : Japan will consider whether to buy Russian crude after the U.S. issued a 30-day sanctions waiver amid the Iran war by taking into account international conditions and its national interests, an industry ministry official said on Friday.The U.S. waiver allows countries to buy sanctioned Russi
The United States has issued a 30-day permit to countries to buy Russian oil and oil products that are under sanctions and are currently on tankers at sea. Treasury Secretary Scott Bessent called the move a measure to stabilize global energy markets,...
The United States has issued a 30-day derogation so that countries that want to be able to buy Russian oil and oil products that are currently at large blocked, as Secretary of Treasury Scott Bessent described it as a step towards the stabilization of global energy markets, transmits Reuters. The Russian Presidency...
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