The UK will effectively loosen some Russian sanctions by allow imports of diesel and jet fuel refined from Moscow’s crude in countries like India and Turkey.
LONDON, UNITED KINGDOM - MAY 7: Fuel pumps are seen at a gas station as concerns over global oil supply and fluctuations in energy markets bring fuel prices back into focus in London, United Kingdom, on May 7, 2026. (Photo by Rasid Necati Aslim/Anadolu via Getty Images)
Oil edged lower in choppy trading as investors weighed President Donald Trump’s newest threat to resume strikes on Iran, a pledge the US leader has made repeatedly before backing off since a truce was agreed to in early April.
Storage tanks at the Motiva Port Arthur Refinery in Port Arthur, Texas, US, on Tuesday, April 14, 2026. US natural gas futures ended lower for a fifth consecutive session, erasing earlier gains as traders weighed plunging oil prices against mixed weather outlooks.
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