BREAKING: US President Trump says he has agreed with Vladimir Putin that Russia would export “to the American and Global Marketplace” diesel.

The quantities are, however quite small to make a meaningful impact. Trump says Russia will export immediately ~300,000 tonnes (~2.2 million barrels or ~100,000 b/d for the rest of the month); plus ~500,000 tonnes in November (~3.7 million barrels, ~125,000 b/d for the month). The flows would increase later, Trump said.

Left unsaid: the White House will have to lift once again sanctions on Russian refined products (if not all oil).