Oil markets decline amid Russian diesel arrangements and Gulf supply developments

Oil prices declined on Tuesday following a rise of nearly two dollars per barrel in the previous trading session, as market participants evaluated supply risks caused by attacks on Saudi Arabia alongside anticipated Russian diesel inflows. Brent crude futures dropped by 61 cents, or 0.57%, reaching $106.04 a barrel by 00:00 GMT, while US West Texas Intermediate futures fell 47 cents, or 0.5%, to $93.27 per barrel. US President Donald Trump stated that Russia agreed to export diesel to global markets, noting that his administration temporarily waived sanctions on Russian fuel—penalties originally implemented to strip Moscow of revenue used in its war against Ukraine. These additional shipments could ease tight supplies across global fuel markets, tempering the supply anxieties that recently bolstered crude prices. However, American lawmakers from both the Republican and Democratic parties asserted that Trump's understanding with Russian President Vladimir Putin appears to violate US legislation prohibiting Russian energy imports until Moscow ceases its aggression against Ukraine.