US Refiners Get Rare Chance to Buy Iranian Crude Again

The Trump administration has temporarily eased some sanctions on Iranian oil, pausing hostilities that have defined US-Iran relations since the 1979 hostage crisis.

For the first time in almost four decades, American fuelmakers will have the option to buy crude from Iran, after the US Treasury issued a waiver on Iranian oil under the terms of an interim peace deal. While it’s too early to know whether traders and refiners will book tankers to move Iranian crude, the waiver marks a significant break from decades of US economic pressure on Tehran.

The sanctions relief, valid for 60 days, has ...