The United States has issued a temporary 30-day waiver allowing countries to purchase sanctioned Russian petroleum products already in transit at sea, in a move aimed at easing mounting global energy prices triggered by the escalating conflict involving the United States, Israel, and Iran.
The decision comes as international oil markets remain under heavy pressure, with the expanding Middle East conflict disrupting investor confidence and threatening global supply routes.
Despite the waiver, market reaction remained limited. Benchmark Brent Crude crude climbed back above $101 per barrel by Friday morning, while Asian stock markets also faced renewed pressure amid fears of prolonged geopolitical instability.
The latest economic response comes as the conflict approaches its third week, with Iran launching another wave of missiles and drones toward Israel on Friday, intensifying fears of a wider regional confrontation.
In response, Israeli forces said they carried out fresh strikes across Tehran and continued military operations against the Iran-backed Hezbollah in Lebanon, including attacks near Beirut.
Iranian state media also reported nationwide rallies marking Quds Day, with crowds gathering in support of Palestinians as tensions remain high across the region.
Residents in Tehran and nearby Karaj reported hearing repeated explosions and fighter jet activity as military operations continued.
The conflict, which began with coordinated U.S.-Israeli strikes on Iran, has increasingly affected global energy calculations, particularly around concerns over the Strait of Hormuz, through which a major share of the world’s oil exports passes.
Analysts warn that although Washington’s temporary sanctions relief may provide short-term supply flexibility, sustained military escalation could continue to keep oil prices elevated and deepen pressure on global inflation.
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