Oil Holds Near $100 as Russian Sanctions Waiver Delivers Limited Relief

Global oil hovered around the $100-a-barrel mark after the U.S. temporarily allowed seaborne Russian crude already in transit to be sold, a narrowly tailored waiver analysts say provides limited relief to a tight market. Brent traded just over $100 while WTI was near $95, with investors weighing ongoing Hormuz-related supply risks, Iran tensions, and the fact that the waiver applies only to oil in transit through April 11. Goldman Sachs lifted its price forecast to around $100 for Brent in March and $85 for April, underscoring the uncertain and potentially persistent supply constraints despite the waiver’s limited scope.