Oil dips as US eases Russian sanctions amid Middle East tension

Oil prices fell on Tuesday as markets reacted to a US executive order that eased sanctions on Russian energy exports. The order, signed by President Donald Trump, waived certain sanctions and tariffs linked to Russia’s oil and gas shipments. At the same time, recent attacks in Saudi Arabia and Yemen kept worries about Middle East supply disruptions alive.

Context

Sanctions on Russian oil have been a key tool for the West since the Ukraine conflict began. Reducing those restrictions can push prices down by easing supply concerns. Tensions in the Middle East often add uncertainty because any disruption there can quickly raise oil prices.