Trump's energy ceasefire push lowers oil prices as Russian diesel plan faces doubts
Zelensky said Ukraine would accept a halt to energy strikes if Moscow agreed, as oil prices dropped and stocks mostly climbed Monday. Six bipartisan senators are pressing the administration to drop its plan to buy Russian diesel.
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What happened
President Trump announced an energy ceasefire between Russia and Ukraine, and Ukrainian President Zelensky said Ukraine would agree if Russia did. Oil prices fell and most stock markets rose on Monday, offsetting a fresh wave of Houthi attacks on Saudi Arabia. Six bipartisan senators have urged the administration to reverse its plan to buy Russian diesel to lower fuel prices.
Timeline
- Oct 11, 11:40 AM ET: Trump declared an energy ceasefire between Russia and Ukraine, and Zelensky said Ukraine would agree if Russia did.
- Oct 11, 1:33 PM ET: Six bipartisan senators called on the administration to immediately reverse course on buying Russian diesel.
- Oct 11, 10:16 PM ET: Oil fell after news that Iran reportedly offered to mediate between the Houthis and Saudi Arabia.
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