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Putin and Trump diesel pact cuts oil by 1.7%
Oil prices declined in the Asian market after U.S. President Donald Trump exempted Russia from sanctions and tariffs, boosting expectations of increased Russian fuel exports. Brent crude dropped by 1.77% to $107.92 per barrel, while West Texas Intermediate fell to $100.58, following price peaks that reached their highest levels since May and September, respectively. This development followed an agreement between Trump and Putin to export Russian diesel, beginning with approximately 2.3 million barrels this month, with the possibility of increasing to 7.6 million barrels per month. Meanwhile, intensified attacks on commercial ships reduced Gulf oil flows to about 8.5 million barrels per day, down from over 20 million barrels previously.
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