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A Supply Deal That's a Drop in the Ocean
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Trump's diesel diplomacy and market impact
- Trump's diesel diplomacy driving markets today
- Deal with Putin releases 300,000 metric tons Russian diesel
- Equates to 2.25 million barrels
- Additional deliveries scheduled for November
- Arithmetic not compelling for US diesel exports
- US exports 1.5 million barrels daily
- Russian deal equals one and a half days of US exports
- Houthy attacks on Saudi Arabia ramping up
- Brent and oil prices up today
- Diesel spreads and refinery spreads widening
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