US issues 60-day waiver of Jones Act Shipping law, according to the White House
Newsquawk Staff ·
US issues 60-day waiver of Jones Act Shipping law, according to the White House.
What it means
The 60-day waiver of the Jones Act by the US reflects a strategic decision to enhance energy supply flexibility amid potential disruptions. This move could ease shipping costs and timelines, which is particularly relevant for energy markets as it may influence crude oil and LNG transportation. Watch for potential impacts on energy pricing and logistics as the markets absorb this decision.
- US Weekly Private Energy Inventory Data (bbls): Crude -2.0mln (exp. +0.5mln), Gasoline +2.4mln (exp. -1.3mln), Distillate +0.4mln (exp. -0.9mln), Cushing -0.5mln
- CRUDE WRAP: WTI (Z6) SETTLES USD 1.86 LOWER AT 99.90/BBL; BRENT (F7) SETTLES USD 1.33 LOWER AT 109.41/BBL
- US Energy Secretary Wright says the suspension of sanctions on Russia is temporary; US is ramping up LNG exports
- US President Trump says he is travelling to a rally in Corpus Christi, Texas, where the US will receive 1mln barrels of Venezuelan oil as a result of the military operation, followed by the biggest oil deal in the history of the world
- Russian refineries’ crude processing up 25% since drone attacks stopped in mid-October, according to reports, citing sources
Related headlines
- Iran and Belarus sign memorandum on energy cooperation, reports IRNA8 hours ago
- US President Trump says believes I will visit tanker in Texas with Venezuela oil; thinks Secretary of State Rubio will be with him; we are going to accept 1mln bbls of Venezuelan oil8 hours ago
- Maersk (MAERSKB DC) is temporarily introducing an emergency inland fuel and energy surcharge on all inland transport cargo in Northern Europe until further notice, with electric trucks and rail solutions exempt9 hours ago
- Russian Deputy PM Novak says domestic refineries are bringing units back online very quickly following maintenance. Russia and the US could begin cooperating on Arctic LNG projects9 hours ago
- Russian President Putin says Russia should avoid going too far with the green agenda and must consider ending the ongoing conflict and lifting sanctions12 hours ago
- Tanzania announces discovery of 23bcf of estimated natural gas reserves in Mnazi bay12 hours ago
- Russian President Putin says global gas prices have risen sharply but could also fall sharply, RIA reports; Putin proposes that gas-exporting countries cooperate to optimise fuel supply routes, TASS reports12 hours ago
- Senior Ukrainian official says the ceasefire in Oleshky will last until November 1st12 hours ago
- Russian Deputy PM Novak says a fourth tanker carrying Russian diesel is expected to arrive in the US on October 28th, Interfax reports; says Russia can reroute and sell all its gas supplies elsewhere if Europe rejects them, TASS reports13 hours ago
- Qatar extends force majeure on LNG cargoes to Italy's Edison (EDNR IM) until the end of December, Reuters reports14 hours ago
- OPEC+ is reportedly expected to maintain December oil production targets at Sunday's meeting, sources say15 hours ago
- Iranian President Pezeshkian and the Emir of Qatar discussed expanding political, economic, and energy cooperation and strengthening coordination among gas-exporting countries15 hours ago
- Saudi Arabia's Ras Tanura refinery (550k BPD) was reportedly targeted by missiles, triggering powerful explosions and large plumes of smoke, Iranian state media IRIB reports, citing Arab media17 hours ago
- India's oil minister says expanding refining capacity to support domestic demand and uphold export pledge18 hours ago
- Singapore and France to deepen cooperation on electricity and gas, while Singapore and New Zealand will also strengthen energy cooperation20 hours ago