NEW YORK — The price of Brent crude climbed above $105 a barrel as trading opened for the new week, as President Donald Trump’s plan to buy diesel from Russia drew criticism, the Associated Press reported.
Brent, the international standard, rose 1% to $105.74 a barrel. U.S. benchmark crude gained 1% to $92.77. S&P 500 and Dow futures edged up 0.1%, while Nasdaq futures dipped 0.1%.
Trump said Friday he struck a deal with Russian President Vladimir Putin to buy diesel, aiming to ease fuel prices ahead of the Nov. 3 midterm elections. He said Russia would immediately supply more than 300,000 tons of diesel, followed by 500,000 tons in November and 1 million tons after that.
Oil prices have swung because of uncertainty over when the war with Iran will allow the global energy industry to return to normal.
Critics noted the plan runs counter to U.S. efforts to cut the money Russia earns from oil and gas sales to fund its war against Ukraine. Arizona drivers have been watching pump prices closely heading into the election.
Sources: Associated Press via KTAR News. Thee Arizona Times uses AI-assisted reporting reviewed against the sources listed.
Photo: Nicely, John, creator / Public domain via Wikimedia Commons.
