Oil prices rise again, reserves are running low + inflation scorches election prospects, Trump urgently extends energy transportation exemptions.

According to the Zhitong Finance APP, at a sensitive moment when the ongoing turmoil in the Middle East disrupts the global oil market and inflation pressures loom over the U.S. midterm elections, the Trump administration on Monday extended the waiver period for the Jones Act by another 90 days, while narrowing the scope of the exemption to ensure smooth fuel supply.