A tanker loaded with diesel fuel has set sail from Russia to the United States, marking the first shipment since President Donald Trump agreed to a deal with Russian President Vladimir Putin to increase global fuel supplies.
What happened
The Malta-flagged ship, Agioi Fanendes, departed from a port in Russia's Primorsk and is expected to arrive in New York on November 10, according to MarineTraffic tracking data. The ship is carrying 298,000 barrels of diesel fuel, which is expected to have a limited impact on prices, according to energy analysts.
The deal between Trump and Putin was made in an effort to lower prices ahead of the midterm elections, as the US has been experiencing soaring energy prices due to supply shocks from the Iran war and the Russia-Ukraine war. Trump has taken steps to warm ties with the Kremlin and pressure Kyiv to agree to end the war, drawing criticism from Ukraine and its supporters in Congress.
Energy experts say that the arrival of the tanker will have a limited impact on prices, as the US daily diesel demand is about 3.8 million barrels, and the shipment would only satisfy less than a day's worth of usage. The high price of diesel has been a concern for economists, as it affects the cost of food, shipping, and other goods.
