Oil Retreats After U.S. Grants 30-Day Licences to Move Russian Crude Stranded at Sea
Oil prices fell in early trade after the United States issued a 30-day licence allowing countries to purchase Russian oil and petroleum products currently stranded at sea. The move, described by U.S. Treasury Secretary Scott Bessent as aimed at stabilising global energy markets shaken by the war in Iran, provided immediate relief to traders but lef…