Oil slips as Trump administration weighs lifting shadow fleet sanctions
Oil prices slipped this week: Brent crude is now at $105.51 a barrel, and US West Texas Intermediate sits at $97.43.
The drop comes as the Trump administration is considering lifting sanctions on some so-called shadow fleet vessels that have transported oil and petroleum products from countries including Russia, Iran, and Venezuela to help bring down global freight costs.
Mideast attacks prompt IEA diesel release
Ongoing conflict in the Middle East, especially between Saudi Arabia and Yemen's Houthis, has led to more attacks on ships and added pressure to oil markets.
To calm things down, the International Energy Agency plans to release over 20 million barrels of diesel.
Still, experts say these risks could send prices back up anytime, reminding us how easily global events can shake up oil markets.