Oil falls on hopes energy ceasefire will boost supplies

Oil prices slipped as traders weighed expectations of additional Russian diesel supplies after U.S. President Donald Trump said Ukraine and Russia agreed to halt attacks on each other’s energy facilities. Brent crude futures fell 11 cents, or 0.11%, to $104.61 a barrel, while U.S. West Texas Intermediate fell 49 cents, or 0.53%, to $91.36. Earlier in the session both had been down more than 1%. ICE gasoil futures dropped 3% to $1,436 per metric ton after Trump said Russia would immediately send more than 300,000 metric tons—about 2.25 million barrels—to U.S. and global markets. A further 500,000 tons are expected in November and 1 million tons after that. Despite the easing supply pressure, analysts said questions remain about how long any ceasefire will last.