Bessent grants a 30-day extension for Russian oil in tankers as Iran war squeezes supply
Bessent has granted a 30-day extension for Russian oil shipments in tankers amid ongoing supply constraints due to the conflict in Iran. This decision comes as global oil markets face increasing pressure from geopolitical tensions. The extension aims to alleviate some of the supply issues currently affecting the market.
- ▪Bessent has approved a 30-day extension for Russian oil in tankers.
- ▪The extension is a response to supply constraints caused by the Iran conflict.
- ▪Global oil markets are experiencing heightened pressure from geopolitical tensions.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at South China Morning Post.