US grants 30-day waiver for Iranian oil sales
The Trump administration issued a 30-day license (effective March 20-April 19) authorizing the sale and delivery of Iranian crude and petroleum products that were already loaded on vessels as of March 20.
This is the third quick waiver in two weeks, after similar moves for Russian oil, and aims to release 140 million barrels stuck due to the U.S.-Israel conflict with Iran.
Trump administration offers insurance, naval escorts for tankers
Recent attacks in the region, including strikes on tankers in the Persian Gulf, have pushed benchmark crude toward $100 a barrel and nearly stopped shipping through the vital Strait of Hormuz.
To help stabilize things (and hopefully lower prices), President Trump's team is offering insurance and naval escorts for tankers.
US Treasury Secretary Scott Bessent says these steps are part of "Operation Epic Fury" to keep global energy supplies moving and take some pressure off everyone's wallets.