Reuters Morning Bid Russia back on‑tap
Mar 13, 2026
Washington eases sanctions to free up more Russian oil and the market reacts as Brent tops $101. Conversations cover where tankers may divert, who profits from higher crude, and how U.S. policy moves try to blunt price shocks. They also look at inflation signals, shifting Fed rate‑cut expectations, and the ripple effects on mortgages and Wall Street volatility.
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Temporary Sanctions Waiver To Release Tanker Oil
- The White House eased sanctions for 30 days to allow sale of Russian oil from tankers offshore to lower prices.
- Westpac estimates ~125–150m barrels at sea, much going to China and India, easing only a few days of lost Gulf exports.
High Prices Still Profitable For Russia
- Russian crude still fetches ~$70–$80 despite prewar levels near $52, netting Russia roughly $150m per day.
- Higher prices cushion Russia while US pump pain pressures the administration politically.
Supply Fixes Offer Small Relief
- US measures like Jones Act waivers could shave fuel costs slightly but won't fully offset price shock.
- Goldman Sachs estimated a Jones Act waiver could cut ~10 cents per gallon on the East Coast.