Oil prices climb as traders weigh supply risks
<p>Tokyo: Oil prices rose on Wednesday as traders weighed supply risks due to the conflict in the region, in addition to expectations of increased Russian diesel exports.</p> <p>Brent crude futures rose 89 cents, or 0.8%, to $106.58 a barrel, while US West Texas Intermediate crude futures gained 80 cents, or 0.9%, to $94.94.</p> <p>Brent fell 0.9% on Tuesday, while WTI rose 0.4%</p>
On October 13, a group of six Democrat and six Republican U.S. senators called on President Donald Trump to cancel his deal to purchase Russian diesel fuel. In an open letter, the senators condemned the agreement as a gift to their adversary and a betrayal of Western allies. Instead, they urged Trump to use the sanctions law introduced by Senator Lindsey Graham, which authorizes economic pressure on Russia.
The senators warned that the deal would do little to affect U.S. fuel prices while bolstering Putin's war efforts. The Russian government partially lifted the diesel export ban, allowing for the sale of 500,000 metric tons to global markets starting October 10. The senators noted that the deal would harm American security interests and violate Ukraine's right to defend itself against Russian aggression.
They expressed their support for Ukraine's efforts despite Russia's ongoing attacks on Ukrainian power grids.
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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- US senators urge Trump to drop Russian diesel deal, use Graham's sanctions law kyivindependent.com
