Oil prices fell on October 13 amid expectations of additional diesel supplies from Russia, which eased concerns about supply disruptions caused by attacks on Saudi Arabia. Reuters reports, UNN writes.
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Brent futures fell by $1.30, or 1.2%, to $105.35 per barrel. U.S. WTI lost $1.25, or 1.3%, to $92.49.
The day before, both grades had risen by nearly $2 per barrel, while Brent ended trading at its highest level since September 15.
U.S. President Donald Trump said that Russia had agreed to supply diesel to global markets. His administration temporarily eased U.S. sanctions on Russian fuel. Additional volumes could reduce the supply shortage in the global fuel market.
At the same time, ING analysts are skeptical about the prospects for an energy truce between Ukraine and Russia: following Trump's announcement, reports emerged of new Russian strikes on Ukrainian energy facilities.
U.S. lawmakers from both parties also said that Trump's agreement with Putin could violate U.S. law, which bans imports of Russian energy products until aggression against Ukraine ends.