Oil Futures Pull Back on Russia Sanctions Waiver

Oil futures slipped after President Trump waived new sanctions against Russia, a move aimed at improving energy supply, according to a 0953 ET report from The Wall Street Journal.

The waiver is the immediate catalyst. By sparing Russia a fresh round of penalties, Washington signals a preference for supply availability over tighter enforcement. Interpretation: traders are pricing the possibility of more Russian barrels reaching the market, which pressures futures lower.

The decline may not run far. Exness's senior analyst said conflict in the Middle East will likely contain the downside, keeping a geopolitical risk premium under crude even as the Russia headline weighs on prices. That sets up a tug-of-war between supply-side relief and regional disruption risk.

The move is a pullback, not a collapse. Two opposing forces now frame the market: a U.S. policy decision that points toward looser supply, and ongoing Middle East conflict that points toward support. Interpretation: this combination tends to produce choppy, headline-driven trading rather than a clean directional trend.