Trump Says Putin Is Sending Russian Diesel — So Much for Sanctions
President Donald Trump said Friday that Russia has agreed to send millions of tons of diesel to world markets. The announcement came after a phone call with Russian President Vladimir Putin and as U.S. fuel prices sit near record highs weeks before the midterm elections. In a Truth Social post, Trump said Russia "will immediately supply over 300,000 Tons of Diesel Fuel to the American and Global Marketplace, another 500,000 Tons during the month of November, and 1,000,000 Tons immediately thereafter." He added that Russia would then deliver 3,000,000 more tons "based on the condition of their Diesel Refineries." "Between our TOTAL CONTROL of the Strait of Hormuz, and this great announcement on Russian Energy, Diesel Prices for Americans and, indeed, the World, will be COMING DOWN, IN RECORD NUMBERS, AND FAST!" Trump wrote. · Where are MPC shares going? Diesel Futures Drop Heating oil futures, the benchmark for U.S. diesel, fell 4.33% to $4.67 a gallon Friday afternoon. That's still more than double the 52-week low of $2.05, but below the high of $5.43, according to Trading Economics. Read Also: Shell, Chevron, BP Pull Crews as Hurricane Isaias Barrels Toward Gulf Coast Refiner
President Donald Trump said Friday that Russia has agreed to send millions of tons of diesel to world markets. S. fuel prices sit near record highs weeks before the midterm elections. " Trump wrote.
· Where are MPC shares going? S. 67 a gallon Friday afternoon. 43, according to Trading Economics.
Read Also: Shell, Chevron, BP Pull Crews as Hurricane Isaias Barrels Toward Gulf Coast Refineries Refiners have made big profits from the diesel shortage, but two Trump posts in two days gave traders reasons to take some of those gains off the table. S. "will not be attacking Iran at any time prior to the Midterm Elections to be held in the United States on November 3rd," reported. That lowered the risk of new Middle East supply disruptions.
On Friday came the Russian diesel announcement. Shares of PBF Energy Inc. 6%, Marathon Petroleum Corp. 98% and Valero Energy Corp.
92%. 29, per Pro data. 53 on Sept. 68 a year ago.
-Iran conflict around the Strait of Hormuz and by Ukrainian drone strikes on Russian refineries. 8 million tons. 45 barrels per ton, that is about 36 million barrels. By comparison, the G7 agreed on Oct.
2 to release 100 million barrels of diesel and crude. S. pressure on Moscow. Trump signed a sweeping Russia sanctions law just last month.
S. S. The deal's timing is unclear. On Oct.
1, Putin said Russia would not supply diesel to global markets until sanctions were lifted, Moscow's ban on diesel exports by producers also runs through Oct. 31. Read Also: Meta Muse Downloads Are Slowing — And Hunterbrook is Short