Oil prices today: Brent at $104.50 — Can Trump's 2.25 million barrel diesel deal offset Iran war risks?
Oil prices today: Brent crude hits $104.50 as Trump's 2.25 million barrel Russian diesel deal faces risks from Iran war tensions and Strait of Hormuz attacks.
Oil prices declined on Monday as markets considered the potential for increased Russian diesel deliveries. US President Donald Trump announced Russia would supply an additional 2.25 million barrels of diesel to the US and global markets, alongside confirmation that Russia and Ukraine had agreed to halt attacks on each other's energy infrastructure.
This development raised hopes of improved fuel supplies and eased some price pressure. Brent crude prices settled at $104.50 per barrel, down 22 cents or 0.2% from the previous session. West Texas Intermediate (WTI) crude futures fell 40 cents or 0.4% to $91.45 per barrel. Analysts expressed uncertainty about the rapid impact of the Russian diesel deal, citing reduced refining capacity in Russia.
Meanwhile, concerns over Middle East tensions and attacks on energy facilities continued to weigh on oil prices.
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