Oil Drops After Trump Says Putin Agreed To Release Some Diesel Into Global Market

What happened: Trump said on Truth Social that Putin agreed to release Russian diesel into the global market, and Treasury's OFAC said it is issuing a temporary general license allowing the supply. Key numbers: 300,000 tons in October, 500,000 tons in November, 1,000,000 tons thereafter, then 3,000,000 tons; license extends until April 2027; WTI fell about a dollar to $91. Why it matters: US and European diesel prices slid on the news, but the article argues the volumes equal only days of US consumption and that the effect may fade once traders assess the deal. Coverage: 8 outlets in 24h

Trump said on Truth Social that Putin agreed to release Russian diesel into the global market, and Treasury's OFAC said it is issuing a temporary general license allowing the supply.

US and European diesel prices slid on the news, but the article argues the volumes equal only days of US consumption and that the effect may fade once traders assess the deal.