- media@moneyinfocus.news
The United States has temporarily authorized the purchase of Russian oil cargoes already at sea in an effort to stabilize global energy markets, as crude prices remain elevated amid geopolitical tensions linked to the war involving Iran.
The measure was announced Thursday night by U.S. Treasury Secretary Scott Bessent, who said the authorization is intended to prevent further disruption in global oil supply and contain rising energy prices.
Despite the announcement, the global benchmark Brent crude continued trading near $100 per barrel, reflecting persistent supply concerns and ongoing volatility in international energy markets.
Market analysts note that the policy adjustment is unlikely to significantly alter supply dynamics in the immediate term.
According to estimates cited by CNBC, Russia currently has approximately 124 million barrels of crude oil already in transit on tankers, representing less than one week of global oil demand.
Because the authorization applies only to cargoes already at sea, the move is viewed as a temporary measure designed to prevent logistical disruptions rather than a broader rollback of sanctions on Russian energy exports.
Russia has faced extensive Western sanctions since its 2022 invasion of Ukraine, which reshaped global energy trade flows and forced many countries to seek alternative suppliers.
Energy markets have remained under pressure due to escalating tensions in the Middle East, particularly the ongoing conflict involving Iran.
Concerns over potential disruptions to oil flows through strategic maritime routes — including the Strait of Hormuz, a critical chokepoint for global energy shipments — have contributed to sustained price volatility in recent weeks.
The combination of geopolitical risks and constrained supply has kept oil prices near triple-digit levels, raising concerns among policymakers about the broader impact on inflation and global economic growth.
In a separate development related to the regional conflict, four U.S. crew members were killed in Iraq when a military refueling aircraft involved in operations connected to the war crashed following a midair collision, according to U.S. defense officials.
The incident underscores the growing operational risks associated with the expanding military presence and heightened instability in the region.
Energy traders and policymakers are now closely monitoring whether the United States will take additional steps to stabilize global supply or extend the temporary authorization.
Analysts say that while the policy adjustment may provide short-term relief to energy markets, broader price trends will likely continue to be driven by geopolitical developments and global production dynamics.
CNBC — Global oil shipping data and market analysis
U.S. Department of the Treasury — Official announcement on sanctions authorization
International Energy Agency (IEA) — Global oil supply and demand estimates
Reuters — Energy market reaction and geopolitical developments
