Oil prices slip as US considers lifting shadow fleet sanctions
Oil prices just took a small dip after the Trump administration is discussing the possibility of lifting sanctions on some vessels associated with the so-called shadow fleet.
Brent crude slipped to $105.51 per barrel, and US WTI crude dropped to $97.43.
If these changes go through, we could see more oil in the market, possibly cooling off those stubbornly high prices, even with all the tension in the Middle East.
International Energy Agency plans diesel release
The Trump administration says easing these sanctions could lower global shipping costs, especially for oil coming from Russia and Iran.
This follows a recent pause on Russian diesel sanctions that sparked some criticism abroad.
Meanwhile, the International Energy Agency is stepping in too, planning to release more than 20 million barrels of diesel to help ease fuel shortages around the world.