CNBC Top News·2 min read
Trump waives U.S. shipping law for 60 days to steady oil market
Trump waives shipping law to stabilize oil prices.

President Donald Trump has temporarily waived the Jones Act for 60 days to stabilize oil markets as tensions rise due to the Iran war. This suspension allows for the unrestricted transport of essential resources, including oil and natural gas, to U.S. ports, which is crucial as oil prices continue to climb amid geopolitical instability.
Key Takeaways
- 1.
Oil prices surged, with Brent crude rising over 6% to exceed $109 per barrel.
- 2.
The Jones Act waiver allows international tankers to transport fuel between U.S. ports.
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