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Oil slips as Trump's sanction waiver may lead to more Russian fuel supplies - Finance news and analysis from Global Banking & Finance Review
Finance

Oil slips as Trump's sanction waiver may lead to more Russian fuel supplies

Published by Global Banking & Finance Review

Posted on October 18, 2026

1 min read

· Last updated: October 18, 2026

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Oil Drops After Trump Waives Sanctions, Rising Russian Fuel Exports Expected

Market Reaction to US Policy Shift

Early Asian Trading Sees Oil Prices Slip

SINGAPORE, Oct 19 (Reuters) - Oil prices slipped in early Asian trade on Monday after US President Donald Trump waived sanctions and tariffs on Russia that may lead to more Russian fuel exports.

Brent Crude Futures Performance

Brent crude futures fell $1.06, or 0.96%, to $108.80 a barrel by 2214 GMT after settling at its highest since May 19 on Friday.

US West Texas Intermediate Crude Update

US West Texas Intermediate crude was at $101.18 a barrel, down 23 cents, or 0.23%.

Reporting and Editorial Credits

(Reporting by Florence Tan, editing by Deepa Babington)

Key Takeaways

  • Trump issued an executive waiver on Oct 16, 2026, exempting Russia from sanctions and tariffs set to take effect under the Graham Act, citing national security—raising concerns about increased Russian fuel flows (live.euronext.com).
  • The waiver coincides with a separate deal allowing Russia to supply over 300,000 metric tons of diesel immediately, with further shipments planned—though analysts doubt these volumes will meaningfully shift global fuel markets (marketscreener.com).
  • Ukrainian President Zelenskiy and lawmakers criticized the waiver, warning it undermines pressure on Moscow and could embolden continued aggression, even as Trump seeks to lower fuel costs before midterm elections (au.investing.com).

References

Frequently Asked Questions

Why did oil prices slip in early Asian trade?
Oil prices slipped because US President Trump waived sanctions and tariffs on Russia, leading to expectations of increased Russian fuel exports.
How much did Brent crude futures fall?
Brent crude futures fell $1.06, or 0.96%, to $108.80 a barrel by 2214 GMT.
What was the price of US West Texas Intermediate crude?
US West Texas Intermediate crude was at $101.18 a barrel, down 23 cents, or 0.23%.
Who reported and edited this news article?
The article was reported by Florence Tan and edited by Deepa Babington.

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