🔥The White House Plans to Extend Jones Act Exemption, Oil Prices Drop in Response


April 24, according to market sources, the U.S. White House will extend the Jones Act exemption to reduce transportation costs for bulk commodities such as oil and natural gas domestically, easing supply tightness. Previously, on March 18, Trump announced a temporary 60-day exemption from the law, allowing foreign ships to transport coal, crude oil, refined products, and other goods between U.S. ports. As a result, both WTI and Brent crude prices fell over 2% intraday, currently at $97.24 per barrel and $99.10 per barrel. Additionally, according to Polymarket data, the probability of the Strait of Hormuz remaining open by the end of this month is only 3%, with a 35% chance of reopening before the end of May.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin