The U.S. Department of the Treasury has announced a temporary permit allowing countries to purchase Russian oil that is currently stranded at sea. This decision is part of an effort to increase the global availability of existing supplies and comes amid fluctuating oil prices. On Thursday, North Sea oil prices spiked above $100 per barrel, while American light oil (WTI) was priced at $95.20 per barrel, reflecting a slight drop since midnight. The measure is described by the U.S. Treasury Secretary, Bessent, as "narrowly tailored and short-term," emphasizing its limited scope aimed at addressing immediate supply issues rather than providing substantial financial gain for Russia.