FX.co ★ Crude Oil Pulls Back Below $92

Crude oil slipped below $92 a barrel on Tuesday, snapping a three-session rally as markets weighed the potential impact of additional Russian fuel supplies on global flows. US President Donald Trump defended his decision to temporarily ease restrictions on Russian diesel exports for six months, following a request that Moscow release more shipments. He argued that the move would ultimately benefit American consumers, even as critics warned it could undercut sanctions imposed in response to Russia’s war in Ukraine.

At the same time, the proposed energy ceasefire between Russia and Ukraine remained in doubt. Trump acknowledged that the truce had already been violated, while Ukrainian President Volodymyr Zelenskyy said Kyiv would continue targeting Russian assets as long as attacks on Ukraine’s energy infrastructure persisted. In a further escalation of regional tensions, Iran-backed Houthi militants in Yemen carried out strikes on Riyadh’s King Khalid International Airport over the weekend, intensifying pressure on Washington to address the conflict.