President Trump announced a deal for Russia to release 300,000 metric tons of diesel immediately, followed by 500,000 tons in November and 1 million tons after that, with another 3 million tons to come depending on the condition of Russia's refineries. Diesel hit a record average of $6.5276 a gallon in late September according to AAA, and 84% of registered voters say the economy is very important to their vote ahead of the midterms. Jefferies said the volumes are unlikely to make a substantial difference, while Lombard Odier cautioned that announced shipments are not equivalent to delivered supply. Former IEA oil division head Neil Atkinson called the source of the volumes a mystery and said the impact would be almost nil, as the US uses 3.7 million barrels of diesel a day against 29 million for the world. Quantum Strategy expects the deal to fail economically and sees it as an invitation for Putin to escalate gray-zone warfare in Europe.
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