Business · Energy & Commodities · 2 hrs ago
Oil prices fall on hopes for Russia-Ukraine energy truce and more diesel
Oil prices fell on Monday after US President Donald Trump said Russia and Ukraine had agreed to stop attacks on energy facilities.
Trump also said Russia would send more than 300,000 metric tons of diesel to US and global markets, with further deliveries planned.
Ukrainian President Volodymyr Zelensky said he was still waiting for details, and Moscow had not commented on the announced pause.
Brent crude fell to $103.18 a barrel, while US crude dropped to $90.31.
Prices remained supported by tensions in the Middle East, including reported attacks on oil tankers near Oman and in the Strait of Hormuz.
The International Energy Agency’s chief urged member countries to consider releasing more diesel from reserves.
How long any price drop lasts may depend on whether the Russia-Ukraine pause is confirmed and holds.
Oil prices fell on Monday after US President Donald Trump said Russia and Ukraine had agreed to stop attacks on energy facilities.
Brent futures fell 1.47% to $103.18 a barrel, while US West Texas Intermediate fell 1.68% to $90.31.
Diesel-linked gasoil futures dropped 3% after Trump said Russia would supply diesel to US and global markets.
Ukraine’s president said he was still waiting for details of the energy truce, and Moscow did not comment on the announcement.
Tensions in the Middle East, including attacks near the Strait of Hormuz, continued to support oil prices.
- Who
- Russia and Ukraine, with the announcement made by US President Donald Trump.
- What
- Oil prices fell amid hopes for a halt to attacks on energy facilities and expectations of increased Russian diesel supply.
- When
- Monday, October 12, 2026; prices were reported at 01:54 GMT.
- Where
- Global oil markets; the reported truce concerns attacks on energy facilities in Russia and Ukraine.
- Why
- Expectations of more Russian supplies and an energy truce eased immediate supply concerns, while Middle East tensions continued to support prices.
This story does not have two clearly opposing sides.
these announcements eased some immediate supply pressures, but questions remain about the ceasefire's credibility and durability
all member countries should assess the need to release additional diesel from their stocks
Trump said Russia would immediately supply more than 300,000 metric tons of diesel to US and global markets.
The Houthis claimed responsibility for an attack on King Khalid International Airport, and Trump said the United States was considering joining Saudi strikes against the Houthis.
Trump announced that Russia and Ukraine had agreed to stop targeting energy facilities, while Ukrainian President Volodymyr Zelensky said he was waiting for details.
Oil prices fell, with Brent futures down to $103.18 a barrel by 01:54 GMT.
- Brent crude
- $103.18 a barrel, down 1.47%
- West Texas Intermediate
- $90.31 a barrel, down 1.68%
- Gasoil futures
- $1,436 a ton, down 3%
- Immediate diesel supply
- More than 300,000 metric tons, or about 2.25 million barrels
- Further diesel supply
- 500,000 metric tons in November and 1 million metric tons afterward
- Global daily diesel consumption
- About 29 million barrels, according to the International Energy Agency
Sources
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