Crude Oil Pulls Back Below $92
Crude oil fell below $92 a barrel on Tuesday, ending a three-session advance as markets assessed the prospect of additional Russian energy supplies reaching global buyers. US President Donald Trump defended his decision to temporarily ease restrictions on Russian diesel exports for six months, following a request for Moscow to release more supplies. Trump argued that the move would benefit American consumers, despite criticism that easing restrictions could weaken sanctions imposed over Russia’s war in Ukraine. Meanwhile, the proposed energy ceasefire between Russia and Ukraine remained uncertain. Trump acknowledged violations of the truce, while Ukrainian President Volodymyr Zelenskyy said Kyiv would continue striking Russian targets as attacks on Ukrainian energy infrastructure persist. Also, Iran-backed Houthi militants in Yemen launched attacks on Riyadh’s King Khalid International Airport over the weekend, increasing pressure on Washington to address the conflict.
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Crude oil fell below $92 a barrel on Tuesday, ending a three-session advance as markets assessed the prospect of additional Russian energy supplies reaching global buyers. US President Donald Trump defended his decision to temporarily ease restrictions on Russian diesel exports for six months, following a request for Moscow to release more supplies. Trump argued that the move would benefit American consumers, despite criticism that easing restrictions could weaken sanctions imposed over Russia’s war in Ukraine. Meanwhile, the proposed energy ceasefire between Russia and Ukraine remained uncertain.
Trump acknowledged violations of the truce, while Ukrainian President Volodymyr Zelenskyy said Kyiv would continue striking Russian targets as attacks on Ukrainian energy infrastructure persist. Also, Iran-backed Houthi militants in Yemen launched attacks on Riyadh’s King Khalid International Airport over the weekend, increasing pressure on Washington to address the conflict.