US Treasury sanctions waiver on Russian oil lapses

The US Treasury has allowed the sanctions waiver on Russian seaborne oil to lapse, impacting the trade dynamics of this commodity. This decision could affect global oil prices as it limits the ability of certain countries to purchase Russian oil without sanctions. The impact on markets may be significant, as traders react to the higher risks associated with Russian oil transactions. The broader implications for oil supply and demand balance especially amidst ongoing geopolitical tensions are notable.