Trump's Oil Price Strategy Faces Two Major Tests This Weekend

AI Summary

The article says two Trump administration decisions could shape energy risks and fuel prices: keeping U.S. forces out of Saudi Arabia’s conflict with the Houthis and licensing Russian diesel. Houthi attacks have reportedly struck Aramco’s Dhahran headquarters and disrupted Riyadh’s main airport, while the Russian diesel license faces a test on October 18.

Two Trump decisions will set this weekend's energy risk, and in both he is giving up leverage to chase lower pump prices before November 3. The first is to keep U.S. firepower out of Saudi Arabia's war with the Houthis. The Houthis hit Aramco's Dhahran headquarters on Tuesday night and have kept Riyadh's main airport shut until Saturday, and Washington's rule since September is that it stays out as long as the Houthis hit only Saudi targets. The second is the license for Russian diesel. It faces its first test on October 18, the deadline in the…