The U.S. has announced it will not extend oil waivers for Iran and Russia, as stated by Bessent. This decision is likely to tighten global oil supply, impacting the market through a supply disruption channel. Iranian and Russian oil exports, which have been previously shielded from sanctions, may face increased constraints, potentially leading to higher prices for crude oil and related energy assets. Traders will be particularly attentive to upcoming OPEC meetings and production decisions, which could further influence oil market dynamics in response to these geopolitical developments.
US WILL NOT EXTEND OIL WAIVERS FOR IRAN AND RUSSIA, SAYS BESSENT.
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