00:00The Middle East now, as the war with Iran continues to drive up global oil prices,
00:05the United States is trying to take new steps to boost that oil supply.
00:09Yeah, the Trump administration is now easing oil sanctions on Venezuela,
00:12allowing U.S. companies to do business with the country's state-owned oil industry for the first time in years.
00:19The move is aimed at getting more oil into the global market as prices surge.
00:24The White House is also issuing a 60-day waiver on shipping rules designed to make it easier and cheaper
00:31to move oil between U.S. ports.
00:34All of this comes as the Strait of Hormuz remains a major flashpoint, with Iran halting traffic through the critical
00:41waterway.
00:42It is disrupting a key route for global oil shipments.
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