Geopolitical events
On October 9, 2026, U.S. President Donald Trump announced an agreement with Russian President Vladimir Putin to waive sanctions on Russian diesel shipments in an effort to expand fuel supplies to U.S. and international markets. Under the terms of the deal, Russia will immediately export over 300,000 metric tons of diesel, followed by an additional 500,000 metric tons in November 2026 and one million metric tons shortly thereafter. To facilitate the transactions, the U.S. Department of the Treasury issued a temporary general license authorizing commercial trade in Russian diesel.