nuOct 12, 2026, 07:56

Oil price dips slightly after Trump does business with Putin

Oil prices dipped slightly after President Trump secured a deal to import diesel from Russia in an attempt to lower fuel costs before the upcoming midterm elections. The agreement has drawn criticism from Ukrainian President Volodymyr Zelensky, who called it a concession to Russia and challenged claims regarding a de-escalation of energy infrastructure attacks.

Global oil prices saw a slight decline on Monday morning following news of a diesel supply agreement between U.S. President Donald Trump and Russian President Vladimir Putin. Under the terms of the deal, the United States will receive 300,000 tons of diesel from Russia in the short term, with millions of tons expected to follow. Although the U.S. currently possesses sufficient domestic diesel supplies, this strategic move is aimed at influencing market prices. The initiative comes as President Trump seeks to lower fuel costs ahead of the upcoming midterm elections on November 3, aiming to boost his popularity with American drivers. The agreement has sparked controversy, as it appears to bypass existing U.S. sanctions imposed on Russia following the 2022 invasion of Ukraine. Ukrainian President Volodymyr Zelensky has criticized the deal as a concession to Putin and explicitly denied knowledge of a related claim by Trump regarding a cessation of attacks on energy infrastructure between Russia and Ukraine. Rising fuel prices have been driven by global scarcity exacerbated by conflicts in the Middle East.

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Based on reporting by nu. Translated and condensed by LocalHeadlines.

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