US Weighs Easing Shadow Fleet Sanctions to Cut Record Tanker Shipping Costs

Crude prices pulled back as the Trump administration considers easing sanctions on shadow fleet oil tankers linked to Russia, Iran, and Venezuela to curb record shipping expenses. Brent crude slipped to $104.39 per barrel after topping $106 earlier, while WTI fell to $94.02 from highs near $96. Under the framework, companies could apply to the U.S. Treasury to transport non-prohibited oil on previously blacklisted vessels. The deliberations follow a temporary waiver on Russian diesel through April 7. However, analysts caution that European Union and UK maritime insurance rules may limit the policy's practical market impact.