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Standard Chartered: Trump's Russian Diesel Won't Add New Supply
Oil prices were mixed in Thursday's trading session, with prospects of the United States easing restrictions on Russia's crude helping ease the international benchmark while attacks on vessels in the Middle East provided support.
AI Summary
Standard Chartered analysts say crude prices will stay high despite increased volatility, noting that upside risks remain significant. They point to mixed market moves on Thursday, where Brent for December slipped 0.2% to $106 a barrel while WTI for November rose 3.6% to $98. The analysts reference President Trump’s recent pledge that Russia will deliver more than 300,000 tonnes of diesel immediately, followed by 500,000 tonnes in November, an additional 1 million tonnes thereafter, and up to 3 million tonnes contingent on Russian refinery output.
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