Oil prices fall after Trump eases Russia sanctions

World oil prices fell on October 19 following the US decision to soften sanctions restrictions against Russia, with the market reacting to a potential increase in Russian fuel supplies under a Trump-Putin agreement, according to Reuters. As of 06:19 GMT, Brent crude traded at $107.57 per barrel, down 2.08%, while US WTI fell 1.92% to $99.46, after both benchmarks had recently reached multi-month highs. The price shift stems from Trump's decision to grant exemptions from sanctions and tariffs under the so-called Graham law, with Secretary of State Marco Rubio stating the administration will assess the restrictions' economic impact over the next 60 days. The exemptions could boost Russian fuel exports, including about 2.3 million barrels of diesel this month, potentially rising to 7.6 million barrels monthly. Analysts warn this won't resolve supply issues through the Strait of Hormuz, where tanker attacks continue, and uncertainty over exemption duration is restraining market reaction. A US congressional bill has been registered to block the Trump-Putin diesel deal.