Trump plans US diesel purchases from Russia as oil falls
Summarised from 2 outlets · Updated 12 Oct, 06:18 · Archive
Oil prices fell about $1.50 a barrel Monday after President Trump announced a deal to purchase diesel from Russia.
Oil prices fell about $1.50 a barrel on Monday following President Trump's announcement on social media Friday that he had struck a deal to buy Russian diesel from Russian President Vladimir Putin. The plan is intended to reduce fuel costs ahead of the November midterm elections. Some lawmakers have criticised the proposal.
Asian markets showed mixed results in trading Monday. South Korea's Kospi fell 3.1% to 6,416.17, whilst Hong Kong's Hang Seng edged 0.2% higher to 24,253.70 and Australia's S&P/ASX 200 surged 0.9% to 8,790.70. Shanghai's Composite index slipped 0.1% to 3,809.08. Markets in Tokyo were closed for a holiday. U.S. stock futures gained more than 0.3% after Wall Street's record-setting week.
Oil prices have remained volatile owing to uncertainty about the impact of the war with Iran on when the global energy industry can return to normal. This week will bring U.S. updates on inflation and retail sales, with major banks reporting earnings from the most recent quarter.
How it is being reported
- Asian shares are mixed and oil prices fall about $1.50 as Trump says US will buy diesel from RussiaAsian shares are mixed and oil prices have fallen about $1.50 a barrel as U.S. President Donald Trump's plan to purchase diesel from Russia draws criticism from some lawmakers.News4Jax · 12 Oct, 05:32
- Asian shares are mixed and oil prices fall about $1.50 as Trump says US will buy diesel from RussiaAsian shares are mixed and oil prices have fallen about $1.50 a barrel as U.S. President Donald Trump's plan to purchase diesel from Russia draws criticism from some lawmakers.Clickorlando · 12 Oct, 05:32
In this story: Donald Trump · Vladimir Putin · Russia · United States · South Korea · Hong Kong · Australia · Iran
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