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Asian stocks moved in different directions in early trading Monday, October 12, 2026, while Brent and U.S. benchmark crude both fell. The Associated Press reported the moves amid President Donald Trump’s announcement that the United States would buy diesel from Russia. The market figures are early-session snapshots, and the report does not establish that the proposed diesel deliveries occurred.
How Asian markets moved
The session was mixed: two of the named indexes declined and two advanced. Tokyo’s markets were closed for a holiday. The figures below are early Monday trading levels reported by the Associated Press, not current live quotes.
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| Market index | Reported move | Reported level |
|---|---|---|
| South Korea’s Kospi | Down 3.1% | 6,416.17 |
| Hong Kong’s Hang Seng | Up 0.2% | 24,253.70 |
| Shanghai Composite | Down 0.1% | 3,809.08 |
| Australia’s S&P/ASX 200 | Up 0.9% | 8,790.70 |
| Tokyo markets | Closed for a holiday | Not applicable |
These diverging moves do not, on their own, show that Trump’s diesel announcement caused any particular index to rise or fall. The AP report described the market session and the announcement together but did not establish a causal link.
Why oil prices fell
Oil was lower in early Monday trading. Brent crude stood at $103.31 a barrel, down 1.4%; the U.S. benchmark was $90.31 a barrel, down 1.7%, according to AP. Those are reported snapshots, not prices guaranteed to persist through the day.
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AP attributed continued oil-price swings to uncertainty about when the war with Iran would allow the global energy industry to return to normal. The report also covered Trump’s statement about buying diesel from Russia, but it did not isolate that announcement as the cause of the day’s decline. A more specific explanation for the roughly $1.50-per-barrel fall cannot be established from the reported information.
What Trump said about buying diesel from Russia
According to AP’s account of Trump’s Friday social-media announcement, he said he had reached a deal with Russian President Vladimir Putin for Russia to supply diesel to the United States. Trump’s announcement described the following quantities and schedule:
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- More than 300,000 tons immediately.
- 500,000 tons in November.
- 1 million tons “immediately thereafter.”
- Another 3 million tons “within a short period of time.”
These are volumes and timing attributed to Trump, not independently confirmed deliveries. AP’s report does not establish that the deal was implemented or that any shipment arrived.
Why the proposal drew criticism
Lawmakers criticized the plan as conflicting with U.S. efforts to restrict Russian oil and gas revenue that could support Russia’s war against Ukraine. AP reported that six senators from both parties urged the administration to reverse course.
The report also described recently passed legislation directing substantial tariffs on leading importers of Russian oil or natural gas, subject to an exception under specified conditions. The available account does not detail the exception or establish how the measure would apply to the proposed diesel deal.
What inflation expectations add to the picture
A preliminary University of Michigan consumer survey, as reported by AP, found that Americans expected inflation of 4.7% over the coming year. That was up from 4.6% a month earlier and 3.4% in February, before the war with Iran began. These are survey expectations, not a forecast of the inflation rate that will actually occur.
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For households, the figures indicate that consumers were anticipating more price pressure than earlier in the year, while oil markets remained volatile. They do not show how much any change in crude prices will affect a particular household’s fuel or other expenses.
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- Asian indexes did not move uniformly: the Kospi and Shanghai Composite fell, while the Hang Seng and S&P/ASX 200 rose; Tokyo was closed.
- Both reported crude benchmarks were lower in early Monday trading.
- Trump announced a proposed Russian diesel supply with specific volumes and timing, but completed deliveries were not confirmed.
- The report gives context for oil volatility and inflation expectations, but does not prove the diesel announcement caused the market moves or the decline in crude prices.
Source: Associated Press market report, October 12, 2026.
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