Donald Trump said he had spoken with Vladimir Putin and that Russia had agreed to supply diesel to the US and wider market, starting with over 300,000 tons immediately. He said a further 500,000 tons would be delivered in November and 1,000,000 tons \u201cimmediately thereafter\u201d, followed\u2014depending on refinery conditions\u2014by another 3,000,000 tons within a short period. Trump also referred to \u201ctotal control\u201d of the Strait of Hormuz and reiterated that Iran would not obtain a nuclear weapon.<\/p>\n\n
Markets reacted with a pullback in crude before a partial recovery. West Texas Intermediate fell from about $91.40 to $89.95, then settled above $90 per barrel, while the US Dollar Index eased to 102.20 from roughly 102.26 and was still up 0.08% on the day. The accompanying risk-sentiment guide defined \u201crisk-on\u201d as a preference for higher-risk assets and \u201crisk-off\u201d as a shift towards safety, typically supporting bonds, Gold and safe-haven currencies such as the USD, JPY and CHF; by contrast, AUD, CAD, NZD and some minor FX such as RUB and ZAR tend to strengthen in risk-on conditions.<\/p>\n\n\n\n