US President Trump's administration is reportedly set to suspend the Jones Act to curb oil price increases, Bloomberg reports
Newsquawk Staff ·
US President Trump's administration is reportedly set to suspend the Jones Act to curb oil price increases, Bloomberg reports.
What it means
The reported suspension of the Jones Act by President Trump's administration aims to address rising oil prices, potentially easing supply constraints by allowing foreign vessels to transport fuel within U.S. waters. This move could impact WTI prices by increasing supply, while also influencing the broader energy market and USD valuations as market participants react to geopolitical developments.
- Ukrainian President Zelensky says negotiations between Ukraine, Russia and the US could take place as early as November 10th
- US Midterms (6 days out): Florida flips to a Republican early-vote lead and Kansas narrows further; Crystal Ball shifts House and Senate races towards Democrats
- Israeli election results show Netanyahu's bloc with 53 seats, Eisenkot's bloc with 47 and Arab parties with 19, following the counting of all votes excluding double-envelope ballots, i24 reports
- Atomic Energy Organization of Iran Spokesman says protocol for building small reactors with Russia is being finalized
- Russian Deputy PM Novak says they are open to work with US partners on energy, but there are no current discussions around a return to specific projects
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