The Trump administration plans to extend a shipping waiver that allows foreign tankers to move oil and gasoline around the US, a bid to counter supply disruptions and higher prices triggered by the war in Iran.
The decision to continue exempting energy shipments from the 1920 Jones Act is set to be announced as soon as Friday, according to people familiar with the matter who requested anonymity to discuss private deliberations. The planned 90-day extension comes as the world drains pre-war crude inventories that have provided a buffer against the near-paralysis of cargoes through the Strait of Hormuz.
The
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