Oil Prices Slip as Trump Grants Russia Sanctions and Tariff Exemptions

Oil prices retreated from five-month highs as investors booked profits following reports that the Trump administration granted exemptions to Russia from certain sanctions and tariffs. The move eases near-term supply disruption fears, though the scope and duration of the exemptions remain unclear. This development signals a potential softening of U.S. pressure on Russian energy exports, which could cap upside in crude prices.