"This action will allow vital resources like oil, natural gas, fertilizer, and coal to flow freely to U.S. ports for sixty days, and the Administration remains committed to continuing to strengthen our critical supply chains."
"The strikes against the heart of Iran's natural gas infrastructure mark a step up in U.S. and Israeli operations, which have until now largely spared Iran's oil and gas sector. For anyone looking for signs of de-escalation, this is the opposite signal."
"Market analysts say the move is likely to have only a modest effect at most on U.S. gasoline prices, which now average $3.84 per gallon per AAA - up from roughly $3 before the conflict began."
The Trump administration issued a 60-day waiver of the Jones Act, a 1920 law requiring cargo transported by water between U.S. ports to use U.S.-built, citizen-owned vessels crewed primarily by Americans. The waiver aims to facilitate the movement of fuels, natural gas, fertilizer, and coal from the Gulf Coast to the East Coast during military operations. However, market analysts indicate the move will have only modest impact on U.S. gasoline prices, currently averaging $3.84 per gallon. Meanwhile, oil prices continue rising due to escalating Middle East tensions, with Israel striking Iran's natural gas processing facilities for the first time, signaling further conflict escalation rather than de-escalation.
Read at Axios
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