Standard Chartered: Trump's Russian Diesel Won't Add New Supply

AI Summary

Oil prices were mixed as potential U.S. easing of restrictions on Russian crude weighed on Brent, while attacks on Middle Eastern vessels supported prices. Standard Chartered analysts expect crude to remain elevated and argue that Russian diesel would not add new supply.

Oil prices were mixed in Thursday's trading session, with prospects of the United States easing restrictions on Russia's crude helping ease the international benchmark while attacks on vessels in the Middle East provided support. Brent crude for December delivery was down 0.2% to trade at $106 per barrel at 2.49 pm ET, while WTI crude for November delivery jumped 3.6% to trade at $98 per barrel. However, commodity analysts at Standard Chartered have predicted that crude prices will remain elevated despite heightened volatility, with risks still…