NEWS

Oil prices climbed on Monday as attacks on Saudi Arabia overshadowed hopes for supply improvements, and expectations for higher US interest rates to fight inflation drove the dollar higher on a narrowly mixed day for global stocks. The action came after US President Donald Trump hailed fresh Russian diesel exports and a Russia-Ukraine energy ceasefire. [Read more]

Dense heavy crude, which oil refiners around the world favor for its typically low cost, is piling up in the Americas as soaring freight rates have stifled exports and US refiners have been running close to their limits. The glut in North and South America has opened an unusual split in the global oil market, [Read more]

Russia will be able to recover its diesel exports to between 3 million tons and 3.5 million tons per month by year-end, the country’s usual exporting volumes of the fuel, Deputy Prime Minister Alexander Novak said on Monday. Speaking to Rossiya-24 state TV channel, he also said that thanks to the deal agreed on with [Read more]

US President Donald Trump has stepped up his efforts to lower US diesel prices by lifting sanctions on Russian diesel exports and announcing a ceasefire on energy infrastructure between Russia and Ukraine. Soaring US diesel prices are hurting US truckers and farmers, and are a concern for voters and political parties ahead of November 3 [Read more]

President Donald Trump on Monday defended a diesel oil deal he made with Russia as lawmakers from both parties complained the agreement appears to violate US law barring imports of Russian energy until Moscow ends its aggression against Ukraine. Trump said he is taking steps to bring down high fuel prices, which are jeopardizing Republican [Read more]