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Why is US President Donald Trump waiving a century-old shipping law?
It's World Business Express from the BBC World Service.
I'm Leanna Byrne.
We hear what the situation is like for seafarers stuck on ships in the Gulf and how Indonesia is seeing the energy crisis as an opportunity.
So, to tackle rising oil prices,
the Trump administration is preparing to suspend a century-old shipping law.
The move would temporarily allow foreign tankers to move fuel between US ports,
boosting supplies to refineries on the US East Coast.
It comes as Iran's new Supreme Leader vows to keep blocking the Strait of Hormuz in his first statement released by the regime.
Emma Wallace, chief investment strategist at Hargreeves Landstand.
Emma, any reaction to the oil price on this?
Not much.
And it comes less than a day after the International Energy Agency agreed to discharge 400 million barrels of emergency oil reserves.