President Trump says he struck a diesel-supply deal with Russia. It likely won’t do much to ease fuel prices ahead of next month’s midterm elections. The deal is getting strong pushback in Washington from lawmakers on both sides of the aisle who question its legality.
Even if it withstands legal challenges, energy analysts and traders say the supply quantities involved are too small to lower prices much. Lawmakers on both sides of the aisle are questioning the agreement’s legality President Trump announced a diesel-supply deal with Russia, but analysts say the quantities are too small to significantly lower fuel prices. Lawmakers from both parties are questioning the legality of the deal, citing a 2022 law that bans Russian energy imports.
The deal would supply about 100,000 barrels a day this month and 125,000 in November, compared to the 800,000 Russia shipped daily last year.
Source: Wall Street Journal Markets · Summarized by HeadlinesBriefing