Trump waives U.S. shipping law for 60 days to steady oil market

[nitpicked]

https://www.cnbc.com/2026/03/18/trump-jones-act-oil-iran-war.html

President Donald Trump issued a 60-day waiver of a longstanding U.S. shipping law in an attempt to stabilize oil markets amid the Iran war, the White House confirmed to CNBC on Wednesday.

((This the Jones Act.))

This is breaking news. Please refresh for updates.

[nitpicked]

1. WTI had been touching $99

Fell back a trifle.

[leftstreet]

2. But he just said high oil prices are good for America

Now they're not?

[nitpicked]

5. I think he meant American oil companies

After all, NHK was this morning saying that the Japanese prime minister will inquire (when she visits this week) about obtaining oil from Alaska.

[nitpicked]

3. And RBOB had been 3.225 just before

Fell back about a cent.

((I add about .60 for other charges to guesstimate what the pump price may become.))

[Passages]

4. Excerpt:

The requirement sharply limits the number ​of ⁠tankers available for domestic shipments, but is supported by maritime industry unions.
Waiving the rule temporarily would allow foreign ships to carry cargoes between U.S. ports, ⁠potentially ​lowering shipping costs and speeding deliveries.
Analysts have ​said, however, that the impact on pump prices will likely be minimal.
https://www.reuters.com/world/us/us-expected-issue-jones-act-waiver-domestic-shipping-soon-wednesday-sources-say-2026-03-18/

[nitpicked]

6. Markets must have reached the same conclusion

RBOB back up to 3.2305 this moment.

[Passages]

8. Yep.

[Boo1]

7. Scraping the bottom of the barrel

And it's not stopping the rise. Oil retreats on news, then climbs back up.

Soon there won't be any levers left to pull.