Brent falls to $105.51 per barrel

Oil prices slipped on Tuesday amid expectations of increased diesel supplies from Russia, which are anticipated to ease tightness in the global market, Report informs via Interfax.

The price of December futures for Brent crude on the London ICE Futures exchange fell by $1.14 (1.07%) to $105.51 per barrel as of 9:20 AM (GMT+4). On Monday, these contracts gained $1.93 (1.84%) to close at $106.65 per barrel.

November futures for WTI crude on the New York Mercantile Exchange (NYMEX) declined by $1.09 (1.16%) to $92.65 per barrel. In the previous session, WTI crude rose by $1.89 (2.06%) to settle at $93.74 per barrel.

Earlier, US President Donald Trump announced that he held successful negotiations with Russian President Vladimir Putin, reaching an agreement for Russia to immediately supply over 300,000 tons of diesel fuel to US and international markets, followed by another 500,000 tons during November and 1 million tons shortly after. Trump added that Russia would subsequently export an additional 3 million tons of diesel fuel within a short timeframe.

Following Trump's instructions, the US Treasury Department's Office of Foreign Assets Control (OFAC) issued a temporary general license authorizing deliveries of Russian diesel to the global market.