Oil drops after US issues license for countries to buy Russian oil stranded at sea for 30 days

Core Viewpoint - Oil prices experienced a decline following the U.S. government's issuance of a 30-day license allowing countries to purchase Russian oil and petroleum products that are currently stranded at sea, which alleviated supply concerns [1] Group 1 - The U.S. issued a 30-day license for countries to buy Russian oil and petroleum products [1] - The decision is expected to ease supply concerns in the oil market [1] - Oil prices dropped on Friday morning as a result of this announcement [1]