ROI — ENERGY WATCH: Pulling all levers
(The opinions expressed here are those of the author, a columnist for Reuters.) Breaking down what matters today in global energy markets By Ron Bousso, ROI Energy Columnist President Donald Trump is pulling all the levers he can in an attempt to cool down diesel prices ahead of the November midterm elections. In recent days, Trump announced a deal with President Vladimir Putin under which Russia will resume some diesel exports after suspending them in July following months of Ukrainian drone strikes that crippled Russia’s refineries. The US administration also lifted some sanctions on Russia to facilitate the diesel shipments, angering both Republican and Democratic politicians. But here’s the thing, the volumes Russia will release over the next three months, according to Trump’s Truth Social post, equate to roughly 12 hours of global diesel consumption. After announcing the diesel deal with Putin, Trump also made a surprise announcement of an energy ceasefire between Russia and Ukraine on Sunday that he said was effective immediately, but it was unclear if either side had actually agreed to the deal. Trump on Saturday also warned Ukrainian leader Volodymyr Zelenskiy that he had
) Breaking down what matters today in global energy markets By Ron Bousso, ROI Energy Columnist President Donald Trump is pulling all the levers he can in an attempt to cool down diesel prices ahead of the November midterm elections. In recent days, Trump announced a deal with President Vladimir Putin under which Russia will resume some diesel exports after suspending them in July following months of Ukrainian drone strikes that crippled Russia’s refineries. The US administration also lifted some sanctions on Russia to facilitate the diesel shipments, angering both Republican and Democratic politicians.
But here’s the thing, the volumes Russia will release over the next three months, according to Trump’s Truth Social post, equate to roughly 12 hours of global diesel consumption. After announcing the diesel deal with Putin, Trump also made a surprise announcement of an energy ceasefire between Russia and Ukraine on Sunday that he said was effective immediately, but it was unclear if either side had actually agreed to the deal. Trump on Saturday also warned Ukrainian leader Volodymyr Zelenskiy that he had "better damn well stop" attacking Russian refineries and urged Ukrainians to replace their leader at new elections.
Trump is under heavy pressure to tackle the rising cost of living in the US, but the steps he had taken are unlikely to change fuel prices by the midterms. 60 a gallon. In the Middle East, tensions have shifted to Saudi Arabia, where Yemen's Iran-aligned Houthis have launched several attacks on Riyadh's international airport, killing at least 14 people. The attacks came as the kingdom hosts a major energy and investment conference in Riyadh.
Saudi Arabia has recently stepped up its military involvement in Yemen, launching strikes against the Houthis that seized strategic territory along the Red Sea coast last month. Meanwhile, tensions also remain high in the Strait of Hormuz where Iranian forces continue striking tankers almost daily, leading to a slowdown in vessels making the dangerous crossing in recent days. Overall crude oil flows out of the Gulf have been fairly robust in recent weeks, however, yet the same cannot be said for exports of liquefied natural gas (LNG). Middle Eastern exports of the super-chilled fuel remain extremely limited.
More on this here. In other news: Asian refiners look set to be among the biggest beneficiaries of a sustained recovery in Middle Eastern crude oil exports as the sector’s centre of gravity shifts to big demand centres in the East, ROI Energy Transition Columnist Gavin Maguire writes. 3 billion cubic feet per day of natural gas ahead of Hurricane Isaias’s landfall along the Florida Panhandle over the weekend. 2 billion.
The deal covers three utility-scale solar assets in Texas and Ohio. As always, feel free to contact me at or connect with me on LinkedIn with any questions or thoughts. Subscribe to get Ron Bousso's Power Up newsletter delivered to your inbox every Monday and Thursday. Opinions expressed are those of the author.
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