Commodity trader Alkagesta will start delivering aviation fuel through one of Europe’s most important energy pipeline networks as part of a supply agreement.

Traders are shipping Venezuelan oil to Israel for the first time in years as the Latin American country’s exports open up following the capture of its president Nicolas Maduro.

US diesel futures are surging ahead of benchmark European contracts as a winter storm, followed by continued frigid temperatures, piles pressure on the country’s fuel market.

Italian energy major Eni SpA has held talks with Mercuria Energy Group over a potential partnership in commodity trading, according to people familiar with the matter.

Oil rose as traders factored in the possibility of US military action in Iran that could upend supplies from one of OPEC’s leading producers, and a massive winter storm in the US pushing up the price of refined products.

The European Union’s ban on the import of fuels made from Russian crude has put some traders on edge as the bloc’s curbs enter into force — a reminder of the potential for blowback from regulations that are designed to hurt Moscow.

Oil edged higher as traders assessed US President Donald Trump’s statement that the US had reached a “framework” for a deal on Greenland.

Oil recovered from earlier losses to trade little changed as the market weighed the fallout from US President Donald Trump’s threat to annex Greenland, while tensions over Iran cooled.

Weak oil prices are making it harder for the shipping industry to decarbonize, according to the president of commodities giant Cargill Inc.’s freight-trading business.

While benchmark oil futures have largely shrugged off Nicolas Maduro’s downfall, the former Venezuelan leader’s ouster has reverberated through some of the less well-known corners of the market.

Oil gained for a fifth straight day in thin trading as investors weighed the US clampdown on shipments from Venezuela against weak demand.

Recent strength in Europe’s fuel markets is starting to fade, eroding oil refiners’ margins and taking away a supportive factor for crude prices as the year draws to a close.

One of the world’s main companies for setting benchmark prices of physical commodities said it will start to ignore fuel that’s made from Russian crude when making its assessments.