Trump turns to Russian diesel ahead of midterms, but analysts see little price relief

U.S. President Donald Trump 's latest geopolitical dealmaking effort to ease a diesel supply crunch ahead of November's midterm elections is unlikely to make a dent in prices, according to analysts. Trump's declaration of an " energy ceasefire " between Russia and Ukraine on Sunday surprised policymakers across the world — not least in Kyiv — and prompted oil prices to fall on Monday, despite Russia striking a power plant shortly after the announcement. Oil later rose. The president's declaration comes after he announced a deal for Russia to release 300,000 metric tons to the U.S. and global markets immediately, followed by another 500,000 tons in November and 1 million tons after that.