Exactly—the Brent-WTI spread just hit an 11-year high, meaning global crude (Brent) is way more expensive than US domestic (WTI), which lets US refiners pocket the arbitrage. And Trump just waived sanctions on Venezuela's PDVSA, so US crude supply + cheaper Venezuelan imports = lower domestic pump prices while the global market (and US energy firms exporting) benefits from the Iran war premium. Smart geopolitical arbitrage.

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