RUSSIAN DIESEL
From Iran to trade, how the US midterms impact the rest of the world
US Democrats' recent midterm election victories could influence global relations, especially concerning Iran and Israel. The potential for a peace deal with Iran seems viable as US voters oppose prolonged conflicts. In Ukraine, Democrats may propose increased financial and military aid, which could face delays. Additionally, Asian countries may reconsider investment pledges to avoid tariffs in light of these outcomes.
Trump's midterm setback may put India under pressure for quick trade deal on US terms: GTRI
Amid electoral challenges, US President Donald Trump is likely to ramp up pressure on India to seal a trade deal. This potential agreement would require India to decrease import tariffs on US goods while the US keeps its tariffs intact. Analysts caution that such an arrangement may breach WTO MFN principles, undermining India's trade credibility. Additionally, compromising energy security and development aspirations could have serious implications.
Indian oil refiners expect healthy margins amid global supply disruptions
A combination of these factors offer Indian refiners an opportunity to capitalise on stronger diesel, gasoline and aviation turbine fuel (ATF) cracks. Reliance Industries (RIL), Bharat Petroleum Corporation (BPCL), Indian Oil Corporation and Hindustan Petroleum Corporation (HPCL) reported record refining performances in the September quarter (Q2) and expect the run to continue.
India weighs new oil manoeuvre as old routes get jammed
The West Asia war has forced India to look at energy security through a new, different lens. The oil issue, for India, has now gone from being a procurement issue to being a test of economic resilience. That has compelled the govt to rethink how it sources, transports and stores the fuel that powers its economy.
Russian strikes cut power to thousands in Ukraine as drones damage Russian facility
Russian strikes on power infrastructure in Ukraine left hundreds of thousands without electricity during the ongoing conflict. President Volodymyr Zelenskiy reported high-intensity attacks in several regions caused severe disruptions to power supply. In response, Ukraine targeted the Kamensky plant in Rostov region, linked to Russian missile production. Nizhny Novgorod authorities confirmed significant damage to an industrial facility from Ukrainian drone attacks.
Reliance Industries expands fuel exports to Africa, Europe as West Asia conflict disrupts supplies
Reliance Industries has redirected fuel exports to Africa, the Mediterranean and other European markets to capitalise on supply disruptions caused by the West Asia conflict, lifting its market share in these regions by about 50%. The strategy helped drive record quarterly earnings for its oil-to-chemicals business as global refining margins surged.
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Trump's oil portfolio up 43% amid Big Oil windfall, pain at the pump
Major oil companies, including ExxonMobil, Chevron, and Shell, reported higher earnings in the third quarter. This comes as the conflict in Iran leads to increased fuel prices for American consumers. Trump's investments in oil and gas stocks have significantly appreciated during this time. More than 94% of his oil stock purchases occurred after the conflict began. Rising fuel prices serve as a crucial issue ahead of the upcoming midterm elections.
EAM Jaishankar slams sanctions, chokepoints disrupting global energy trade, holding prices hostage
S Jaishankar highlighted the challenges posed by disruptions in global oil supplies during the G20 meeting. He pointed out that the current energy crisis results from unpredictability and significant disruptions. Jaishankar emphasized the need for the G20 to ensure that energy markets remain open and predictable. He also mentioned India's efforts in critical minerals and the necessity for reliable energy supplies.
US oil companies aim to squeeze more out of refineries as war supply crunch weighs
US oil companies are enhancing refinery capacities and reopening closed plants due to global supply disruptions. ExxonMobil and Chevron reported record profits, attributed to soaring commodity prices and refinery margins. Additionally, ongoing conflicts have severely impacted refining output, particularly in Russia and Iran. Analysts suggest that it may take until next year for supply chains to stabilize.
Trump pressure prompts Ukraine to pause strikes on Russian refineries, WSJ reports
Ukraine has paused its strikes on Russian oil refineries following pressure from US President Donald Trump, the Wall Street Journal reported. Ukrainian units were reportedly told in mid-October to complete ongoing missions but hold off on further attacks. The unofficial pause could last until after the US midterm elections and potentially deeper into November, amid renewed efforts to revive peace talks.
A ceasefire in a Russian-occupied Ukrainian city holds for its first 30 hours, officials say
A six-day ceasefire has been initiated in Oleshky, allowing much-needed humanitarian aid for around 2,000 residents. Both Ukraine and Russia have reported no violations of the ceasefire in the first 30 hours. Negotiations continue for future discussions to de-escalate the ongoing war, despite both sides holding firm on key demands. Meanwhile, attacks have intensified elsewhere, including drone strikes causing injuries in cities like Kharkiv.
Russia says three tankers with diesel en route to US
Three tankers transporting Russian diesel are currently making their way to the United States. A fourth tanker is scheduled to depart on Wednesday as part of an agreement between the United States and Russia. This deal involves easing sanctions on Russia in exchange for diesel supplies amid rising fuel prices. Ukrainian President Volodymyr Zelensky has criticized this decision as a 'weak decision' regarding US support.
Russian oil refineries boost output as drone attacks halt after US-brokered deal, sources say
Russian oil refineries have increased crude processing by 25% in the second half of October. This increase followed the cessation of persistent drone attacks on the facilities by Ukrainian forces. Amid these attacks, authorities had previously banned the export of gasoline and diesel to manage internal fuel shortages. After the attacks stopped, refineries swiftly restarted operations, which allowed for increased diesel production.
No pressure from US to cut Russian oil imports, Oil minister Hardeep Singh Puri says
Oil Minister Hardeep Singh Puri said India has faced no US pressure to reduce Russian crude imports. US President Donald Trump waived fresh sanctions and duties on Russian energy exports under a new law, sparing India from potential tariffs of up to 100%.
Oil eases on Middle East diplomacy hopes, Saudi attacks keep supply worries alive
Oil prices took a slight dip as Saudi Arabia, Turkey, Pakistan, and Iran engage in diplomatic discussions aimed at quelling tensions. However, the situation remains precarious with increased attacks from Iran-aligned Houthis, causing doubts about further price drops. Brent crude futures remain near six-month peaks, influenced by persistent threats. The Strait of Hormuz, vital for global energy, faces rising risks.
Oil eases on Middle East diplomacy hopes, Saudi attacks keep supply worries alive
Oil prices edged lower on Tuesday as diplomatic efforts to ease the US-Israeli war on Iran raised hopes of a resolution and eased supply concerns. However, Brent crude remained near six-month highs amid renewed attacks on Saudi Arabia and continued risks to shipping through the Strait of Hormuz, a key route for global energy supplies.
India earns nearly 50% more from fuel exports in April-September as costlier oil and weak rupee outweigh lower volumes
India's petroleum product export earnings increased significantly in April to September, driven by high international prices. While the volume of shipments declined by 16%, earnings surged by nearly 50% in rupee terms. Diesel exports were the largest contributors to the earnings growth, accounting for 42% of the total volume. Both diesel and petrol consumption rose during this period, whereas production saw slight declines.
Donald Trump-Republicans or Democrats -- Who will win US Midterm elections 2026? Here's what survey polls say with 10 days to go
US midterm elections 2026: Out of 435 seats in the House of Representatives, Republicans have 218 seats, Democrats have 214, Independents have 1 and there are two vacancies.
Musk says he was behind Starlink speed restriction after service in Ukraine restored
Ukraine's Starlink services were restored after speed restrictions affected military operations for over a week. President Volodymyr Zelenskyy confirmed that the restored speeds were sufficient for front-line logistics. Elon Musk admitted to throttling Starlink for offensive use, sparking tensions between Ukraine and the US. Meanwhile, missile attacks continue to impact civilians in Ukraine, with reported casualties in several regions. Ukrainian forces also targeted military sites across Russia, indicating ongoing conflict.
US courting Reliance's refining muscle to keep oil flowing, not curb Russian crude, analyst says
Marco Rubio's recent visit to Jamnagar emphasizes strengthening energy ties between the US and Reliance Industries. With a capacity of 1.4 million barrels per day, Jamnagar plays a crucial role in global diesel exports. The US seeks to stabilize energy flows while urging India to diversify away from Russian oil. Reliance is also positioned to process Venezuelan crude, enhancing Washington's interests in the region.
Four ways US foreign policy could change if Democrats win in November
Nonpartisan analysts predict that Democrats could gain control of the US House and possibly the Senate. If successful, they could restrict President Trump's foreign policy actions regarding Iran and Ukraine and other nations. Democrats may seek to limit significant military aid to Israel and raise issues surrounding military spending. Many Democratic lawmakers are unhappy with Trump's budget choices and foreign aid cuts.
First tanker of Russian diesel sets sail for the US in Trump's controversial deal with Putin
A tanker transporting Russian diesel to the United States has departed, signaling a new import agreement. This deal has raised concerns in Ukraine due to Russia's ongoing invasion. U.S. political figures criticized the agreement as it contravenes existing American laws and may benefit Moscow. Ukrainian President Volodymyr Zelenskyy expressed disappointment over the decision and its potential impacts.
Ukrainian negotiator says local humanitarian ceasefire with Russia will start on Tuesday
A ceasefire in the Kherson region of Ukraine will commence to enable humanitarian efforts in Oleshky. Melania Trump has played a crucial role in organizing aid delivery and civilian evacuations. The agreement was reached between Ukrainian, Russian and US negotiators ahead of the mission. Civilians in Oleshky are facing dire conditions with limited food and medical supplies. Safety measures for the mission will include mine clearance and secure evacuation routes.
Trump's diesel price relief efforts grow costlier as election nears
With the midterm elections approaching, President Trump is implementing various strategies to combat high diesel prices. These measures include financial aid for farmers and adjustments to regulations for truckers. However, criticisms arise regarding the effectiveness of these solutions and their geopolitical implications. Many voters attribute rising costs to Trump's policies, posing a challenge for Republican candidates. Ultimately, the pressure to lower diesel prices remains as the elections draw near.
Tanker carrying 40,000 T of Russian diesel heads to New York after Putin-Trump deal, data shows
A Malta-flagged tanker carrying 40,000 metric tonnes of Russian diesel is heading to New York following an agreement between Russian President Vladimir Putin and US President Donald Trump. Russia agreed to lift its self-imposed ban on diesel exports and supply fuel to global markets, including the US, in an effort to bring down fuel prices.
US blinks on Russia, India less fluttered
Trump's decision to waive tougher sanctions against Russia aims to ensure US diesel supply until the midterm elections. The waiver, however, is unlikely to significantly impact Russian diesel exports due to damaged refinery capabilities. Furthermore, shipping lines may still face disruptions from ongoing conflicts in the region. India's situation remains complex as it benefits from reduced risks of US tariffs while navigating the oil market.
Trump’s 100% Russian oil tariff U-turn has a catch India can’t ignore
GTRI has warned that Donald Trump’s waiver of threatened 100% tariffs on Russian oil buyers offers India only temporary relief, as Washington can reinstate the duties at any time. The think tank cited US purchases of Russian diesel, tariff protection for China and ongoing India-US trade talks as possible reasons for the move. It also urged New Delhi to protect its energy security and avoid permanent trade concessions in exchange for reversible tariff relief.
‘We’re done’, says Zelenskyy as Kyiv hits Moscow refinery
Ukraine has returned to attacking Russian oil refineries after President Volodymyr Zelenskyy stated that patience had worn thin. The ceasefire on energy targets, which was supported by Donald Trump, is effectively over due to Russia's continued attacks. Six Russian Su-34M military aircraft have been damaged in a Ukrainian strike. Meanwhile, Russian diesel exports are starting to reach global markets as the Kremlin announces a new agreement.
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