Trump extends limited waiver of shipping law to keep oil flowing in U.S. amid Iran war

U.S. President Donald Trump delivers remarks at Red Rock Casino Resort Spa in Las Vegas, Nevada, U.S., Aug. 5, 2026. Evelyn Hockstein | ReutersThe Trump administration on Monday narrowed its waiver of the Jones Act while extending it for another 90 days, leaving in place fewer U.S. shipping restrictions in an effort to keep fuel flowing amid the Iran war.President Donald Trump's second extension of the waiver comes as the war continues to create economic turmoil through the disruption of global oil markets, just a few months before inflation-weary Americans head to vote in the midterm elections.After the Trump administration's latest signals of a deal to reopen the Strait of Hormuz failed to materialize, oil prices have resumed their climb while U.S. petroleum reserves have fallen to their lowest level in decades.Trump issued his first 60-day waiver of the Jones Act on March 17, less than three weeks after the U.S. and Israel started the war by launching heavy strikes on Iran. The Trump administration extended the waiver in mid-May for another 90 days. The newest 90-day extension should last until mid-November, past the date of the midterms.The latest extension, however, will be na...