Oil prices fall as traders assess Russian diesel supply prospects and Saudi-Houthi conflict

A view of the Reduc (Duque de Caxias Refinery) which is back in full operation following the U.S. government's announcement of additional tariffs in Rio de Janeiro, Brazil on June 4, 2026. Fabio Teixeira | Anadolu | Getty ImagesOil prices fell Tuesday as investors weighed prospects of more Russian energy entering global markets, while concerns over the Saudi-Houthi conflict limited losses.Brent crude futures declined 1.48% to $105.05 a barrel, while U.S. West Texas Intermediate futures fell 1.57% to $92.27. President Donald Trump on Monday defended his administration's decision to temporarily ease restrictions on Russian diesel supplies, despite bipartisan criticism from U.S. lawmakers who warned the move could undermine sanctions imposed over Moscow's war in Ukraine. Stock Chart IconStock chart iconBrent and WTI prices so far this yearIn a Truth Social post, Trump said that the European Union had spent billions of dollars on Russian energy imports and insisted he had made the right decision for Americans. The agreement would allow Russia to supply diesel to U.S. and global markets for six months.Goldman Sachs said additional Russian diesel supplies were unlikely to significantly e...