Trump Secures Russian Diesel Deal to Ease Fuel Shortages
President Donald Trump announced an agreement for Russia to supply hundreds of thousands of tons of diesel fuel, causing global oil prices to decline.
Oil prices fell in early Asian trade on October 12, 2026, after Donald Trump announced that his administration reached an agreement for Russia to supply hundreds of thousands of tons of diesel fuel. The deal involves a partial lifting of Russia's ban on diesel exports and aims to mitigate global fuel shortages.
Following the announcement, front-month WTI crude oil futures decreased 0.9% to $91.03 a barrel, and Brent crude oil futures dropped 0.9% to $103.82 a barrel.
Market analysts indicate that the actual relief provided to the global fuel market remains uncertain. The effectiveness of the agreement depends on the impact of ongoing Ukrainian attacks on Russian oil infrastructure, which could hinder the capacity to export the agreed-upon fuel volumes.
