World · Europe · 2 hrs ago

Oil falls as expected Russian diesel supply eases market concerns

Oil falls as expected Russian diesel supply eases market concerns

Oil prices fell at the start of the week, with Brent crude at $103.18 a barrel.

The market response followed US President Donald Trump’s announcement of a deal for Russia to supply diesel to the United States and global markets in stages.

The announced shipments have not all reached the market, so their lasting effect on prices is uncertain.

Trump also said Russia and Ukraine had agreed to stop targeting each other’s energy infrastructure, but Ukraine said it was still waiting for details and reported further attacks, including on a power and heating facility in Kharkiv.

Russia has not officially confirmed the truce, so it is not yet clear that it is being put into effect.

Fighting in the Middle East and attacks on oil tankers near the Strait of Hormuz are adding pressure that could keep prices high or reverse the decline.

The outlook depends on whether diesel deliveries take place, the energy truce is implemented and regional supply and shipping risks ease.

Sources

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