The Trump administration has waived sanctions on ​the purchase of Iranian oil at sea for 30 days in ‌its latest attempt to ease oil prices that have been driven up by the US-Israeli war on Iran.

The waiver will bring about 140 million barrels of oil to global markets…

Independent Chinese refiners have been the main buyers of sanctioned Iranian oil, taking advantage of deep discounts…

“The easing ​of sanctions raises concerns about the rapid depletion of Washington’s economic toolkit,” to dampen oil prices, Erickson said. “If we’ve reached the point of loosening sanctions on the country we are at war with, we’re really running out of options.”