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On Friday, the White House said President Donald Trump issued a 90-day extension to the Jones Act waiver, making it easier for non-American vessels to transport oil and natural gas in the wake of the Iran War.Trump first announced a 60-day waiver in mid-March, a move seen as helping to stabilize energy prices and making it easier for more ships to travel to the U.S. following the effective closure of the Strait of Hormuz.The post on social media by a White House press aide said: “New data compiled since the initial waiver was issued revealed that significantly more supply was able to reach U.S. ports faster.”The price of Brent crude oil, the international standard, retreated on the news, falling to around $104 a barrel. Earlier it had edged up to more than $107, a level nearly 50% higher than where it was on Feb. 28, when the U.S. and Israel attacked Iran to start the war.As part of the diplomatic push earlier Friday, Araghchi and Pakistani officials discussed details of the ceasefire in the war with the U.S. and Israel, part of an effort by Islamabad to get Iran to send a delegation for a second round of negotiations with Washington.Pakistan has been trying to get U.S. and Iranian officials back to the table after Trump this week announced an indefinite extension of the ceasefire with Iran, honoring Islamabad’s request for more time for diplomatic outreach.That hasn’t lowered tensions in the strait, the strategic waterway through which a fifth of the world’s oil and natural gas is shipped during peacetime.Iran has kept its stranglehold on traffic through the strait, attacking three ships earlier this week, while the U.S. has maintained its blockade of Iranian ports and ordered the military to “shoot and kill” small boats that could be placing mines.Washington now has three aircraft carriers in the region after the USS George H.W. Bush arrived in the Indian Ocean this week. The USS Abraham Lincoln is in the Arabian Sea and the USS Gerald R. Ford is in the Red Sea.It is the first time since 2003 that three American carriers have been operating in the region simultaneously. The force includes 200 aircraft and 15,000 sailors and Marines, U.S. Central Command said.
On Friday, the White House said President Donald Trump issued a 90-day extension to the Jones Act waiver, making it easier for non-American vessels to transport oil and natural gas in the wake of the Iran War.
Trump first announced a 60-day waiver in mid-March, a move seen as helping to stabilize energy prices and making it easier for more ships to travel to the U.S. following the effective closure of the Strait of Hormuz.
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The post on social media by a White House press aide said: “New data compiled since the initial waiver was issued revealed that significantly more supply was able to reach U.S. ports faster.”
The price of Brent crude oil, the international standard, retreated on the news, falling to around $104 a barrel. Earlier it had edged up to more than $107, a level nearly 50% higher than where it was on Feb. 28, when the U.S. and Israel attacked Iran to start the war.
As part of the diplomatic push earlier Friday, Araghchi and Pakistani officials discussed details of the ceasefire in the war with the U.S. and Israel, part of an effort by Islamabad to get Iran to send a delegation for a second round of negotiations with Washington.
Pakistan has been trying to get U.S. and Iranian officials back to the table after Trump this week announced an indefinite extension of the ceasefire with Iran, honoring Islamabad’s request for more time for diplomatic outreach.
That hasn’t lowered tensions in the strait, the strategic waterway through which a fifth of the world’s oil and natural gas is shipped during peacetime.
Iran has kept its stranglehold on traffic through the strait, attacking three ships earlier this week, while the U.S. has maintained its blockade of Iranian ports and ordered the military to “shoot and kill” small boats that could be placing mines.
Washington now has three aircraft carriers in the region after the USS George H.W. Bush arrived in the Indian Ocean this week. The USS Abraham Lincoln is in the Arabian Sea and the USS Gerald R. Ford is in the Red Sea.
It is the first time since 2003 that three American carriers have been operating in the region simultaneously. The force includes 200 aircraft and 15,000 sailors and Marines, U.S. Central Command said.
