Oil Prices Head for Weekly Gain Despite U.S. Waiver on Stranded Russian Crude

Crude oil prices were on course for another weekly gain today, despite a temporary dip following the announcement of a 30-day sanction waiver on Russian crude stuck on tankers as the Trump administration tries to alleviate an increasingly serious-looking supply tightening. Brent crude was trading at $100.2 per barrel at the time of writing, and West Texas Intermediate was trading at $95.03, both slightly down on Thursday’s close but higher on the start of the week. Washington’s sanction waiver follows an admission by the International…