"We have sanctions on some countries. We're going to take those sanctions off till the Strait (of Hormuz) is up. President Donald Trump said oil prices have not spiked as much as he had feared - that's despite the price of oil soaring above $100 a barrel for the first time since 2022."
"Almost $15 million has been wagered on prediction markets like Polymarket about the price of a barrel of crude oil by the end of the month as the fuel crisis continues. So far, in response to the question Will Crude Oil (CL) hit__ by end of March?, $14,621,677 worth of wagers have been made."
"President Donald Trump has said the US will protect oil shipping and help to keep energy and oil flowing to the world. The US last week issued a temporary, day waiver to allow for the sale of Russian oil currently stranded at sea to India to alleviate pressure on the global oil market."
Following Israeli strikes on Iranian oil sites and Iran's appointment of a new supreme leader, crude oil prices have exceeded $100 per barrel for the first time since 2022. Nearly $15 million in wagers have been placed on prediction markets regarding oil prices by month's end. President Trump announced the United States will waive certain oil-related sanctions to ensure adequate oil supply and prevent further price increases. The administration issued a temporary waiver allowing Russian oil sales to India. Trump stated oil prices have not spiked as severely as anticipated and committed to protecting oil shipping routes to maintain global energy flow.
Read at www.independent.co.uk
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