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The Economic Times
The Economic Times
Veer Sharma

Oil Price Today (October 12): Crude oil dips to $103 despite simmering Iran war tensions. Here’s why

Oil prices fell on Monday as expectations of increased Russian supplies weighed on the market after US President Donald Trump said Ukraine and Russia had agreed to stop attacks on each other’s energy facilities. The announcement followed a US deal with Moscow to supply diesel.

Trump announced the energy ceasefire on Sunday, following Friday’s announcement of the diesel-supply deal with Russia. Ukrainian President Volodymyr Zelenskiy said he was still awaiting details of the agreement, while Russia had not commented.

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