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After surging about 10 percent on Thursday, oil prices had little reaction to the decision by President Trump to waive sanctions on the sale of some Russian crude.
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Russian oil can reach markets fast. The Iran conflict's supply fears, however, are much bigger.
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Cuban president confirms talks with US officials amid Trump pressure PoliticoCuban President Acknowledges Talks With Trump Administration The New York TimesCuban president says talks held with the United States amid intense pressure from Trump CNNCuba's leader Miguel Diaz-Canel confirms talks with Trump administration but warns agreement still far off CBS NewsCuba opens talks with U.S. as oil blockade takes a toll Reuters
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A temporary removal of U.S. sanctions on Russian tankers at sea failed to calm concerns over prolonged disruptions to the flow of crude through the Strait of Hormuz.
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Also in Weekend Reads: The technical case for the S&P 500 to fall 10%, private-credit fears, safe havens for investors, and advice from the Moneyist.
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Trump administration allows for Russian oil sales as energy prices soar The Washington PostSuspended U.S. Sanctions Add a Political Win to Russia's Economic Gains The New York TimesOil prices stay high despite US temporarily lifting sanctions on Russian oil stranded at sea CNNU.S. allows temporary purchases of Russian oil already at sea to stabilize energy markets CNBC
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Investors say they are balancing the risks from oil disruptions against the many positives like strong corporate earnings and the likelihood that President Trump will end the war if it threatens markets.
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Zelenskyy says US 30-day waiver on Russian oil sanctions is ‘not the right decision' AP NewsMerz rebukes US for temporarily lifting sanctions on Russian oil The GuardianUkraine and allies fear easing Russian sanctions will prolong war BBCTrump is ‘wrong': Europeans slam US decision to ease Russia oil sanctions politico.euGerman economy minister: US waiver on Russian oil driven by domestic pressure Reut
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Stock Market Today: Dow Rises On Surprise Inflation, GDP Data; Adobe Dives On Earnings (Live Coverage) Investor's Business DailyStock market today: Dow, S&P 500, Nasdaq futures slide after stocks sink to lowest levels since November Yahoo FinanceU.S. stocks stabilize after turbulence brought on by the war with Iran Pittsburgh Post-GazetteDow Jones Futures Rise As Oil Prices Retreat; Dell, Micron Lead 7 Stocks To Watch Investor's Business Daily
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EU pushes back on US decision to ease sanctions on Russian oil stranded at sea Euronews.comUkraine, EU allies slam US decision to roll back Russia oil sanctions Al Jazeera‘Wrong move': Grassley criticizes Trump lifting sanctions on Russian oil The Hill
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Oil Prices Rise Despite Trump's Decision to Lift Russia Sanctions The New York TimesTrump Removes Sanctions on Russia to Help Oil Flow Amid Iran Conflict The New York TimesJapan to consider whether to buy Russian crude following US sanctions waiver ReutersU.S. allows temporary purchases of Russian oil already at sea to stabilize energy markets CNBC
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Goldman Sachs economists Manuel Abecasis and David Mericle in a new research note looked at the economic implications of the Iran war on the U.S. economy.
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