Oil reacts to Trump's rejection of peace deal with Iran
Oil prices rose slightly on Sept. 28, amid delays in talks on a ceasefire between the United States and Iran after U.S. President Donald Trump rejected a proposed peace deal, according to Reuters.
Former U.S. President Donald Trump urged Ukrainian President Volodymyr Zelensky to ease attacks on Russian oil refineries during their meeting in New York last week, amid a global surge in diesel prices. Trump previously argued that Kyiv's strikes on Russian refineries were a significant factor in the price increase. However, a Ukrainian official revealed that Ukraine would only agree to halt attacks on refineries if Russia also agreed to an energy truce.
Despite Trump's claims, evidence suggests that other factors, such as the conflict between Iran and the U.S.-Israel, have had a greater impact on diesel prices. According to a Ukrainian energy institute, Russian oil exports dropped by one-third during the same period, accounting for a significant portion of the world's seaborne diesel and gasoil trade.
Ukraine has been targeting Russian refineries for years, and Russia retaliated with attacks on Ukraine's energy grid, leaving thousands without electricity and heat in the recent cold.
Written by urgent.news from Kyiv Independent's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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