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How much longer will consumers be willing to muscle through higher prices?

High gas prices are intensifying inflation and vacuuming up more of Americans' dollars, yet consumers are still digging deep to spend, powering the economy, at least for now

Rudolph Diesel was thinking of farmers when he invented his engine

15 October 2026 at 21:13

When Rudolph Diesel disappeared in 1913, many suspected foul play. The prime suspects were Germany’s Kaiser Wilhelm II and US oil man John D. Rockefeller. Both would have had reason to want the inventor of the diesel engine dead. The militaristic kaiser was building a diesel-powered submarine fleet. He had no interest in other countries […]

The post Rudolph Diesel was thinking of farmers when he invented his engine appeared first on Asia Times.

Wholesale inflation hits levels not seen since 2022

Wholesale inflation rose more than expected last month on a big jump in fuel costs as rising prices become a bigger economic challenge for millions of Americans, and a growing political problem for Republicans in the upcoming midterm elections.

Is the world pricing the risk of a US diesel export ban?

15 October 2026 at 19:24

A spike in diesel prices is hammering broad sectors of the US economy – especially agriculture and shipping – and becoming a flash point ahead of the November 2026 midterm elections. This squeeze has prompted Republicans from hard-hit farm states to call for a ban on US diesel exports, with President Donald Trump reportedly weighing […]

The post Is the world pricing the risk of a US diesel export ban? appeared first on Asia Times.

Musk pointed at the US military over Ukraine’s satellite limits. Now a US official says the administration had nothing to do with them

15 October 2026 at 11:43

The Starlink logo on a smartphone screen.

Ukrainian officials contacted the White House, CIA, and Pentagon after the restrictions, which Ukraine says affected both Starlink and Starshield, Axios reported on 14 October. A senior US official told Axios the Trump administration had nothing to do with the restrictions. On the same day, Elon Musk said on X that Starshield systems are owned and controlled by the US government, and that any speed or usage limits are decided by the US military and ultimately the president.

The restrictions could affect Ukraine’s ability to intercept Russian attack drones and carry out mid-range strikes against Russian forces and military targets in occupied Ukrainian territories. A speed cap of 160 km/h was insufficient to intercept some jet-powered drones, an unnamed Ukrainian official told Axios. Ukrainian officials told Axios they suspect SpaceX imposed the restrictions to pressure Kyiv to accept US President Donald Trump’s demand to stop striking Russian oil refineries, though the motive remains unconfirmed. But Starlink does not work inside Russia, and the drones attacking Russian oil facilities use other communications systems, according to Reuters.

What Musk and the White House said

Musk did not directly address the throttling, Axios noted. Starlink, he wrote, “is a commercial service owned and controlled by SpaceX,” limited to civilian or defensive use.

White House officials told the Ukrainians they don’t have control over SpaceX, two sources told Axios. One said the administration would reach out to SpaceX to figure out what happened. The White House did not immediately respond to Axios’s request for comment.

How the cap disrupted drone missions

Presidential adviser Serhii Beskrestnov said on 14 October that SpaceX had imposed a 160 km/h limit on Starshield’s “military package” overnight without warning. Ukraine’s 7th Rapid Reaction Corps said mid-range strike drones must reach high speed quickly and that an unstable connection “will make it impossible to launch such aircraft or use them as intended.” One unit on the Huliaipole front had to cancel some missions, the corps told Novynarnia.

ukraine goes back hitting russian oil after its trump-forced pause left kyiv without warnings incoming ballistic missiles · post ukrainian president volodymyr zelenskyy during interview piers morgan london 14 2026
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Ukraine is going back to hitting Russian oil after its Trump-pressured pause, during which Kyiv got no US warnings of incoming ballistic missiles

Ukrainian officials told Axios the system turned off when drones exceeded 160 km/h, and sometimes 80 km/h, before service was partially restored on 14 October. The Defense Ministry said SpaceX continues to restrict Starlink to 160 km/h and that it remains in communication “with partners and SpaceX regarding stable service conditions and the prevention of sudden restrictions,” Axios reported.

A diesel deal

The restrictions followed Trump’s 9 October deal with Russian President Vladimir Putin easing sanctions on Russian diesel. A day later, Trump told reporters: “We said you could do whatever you want to Russia, don’t hit the refineries,” the Kyiv Independent reported.

US weighs relief for sanctioned shadow fleet tankers, days after freeing Russian diesel

15 October 2026 at 10:25

Kremlin welcomes Trump National Security Strategy as aligned with Russian vision on Ukraine

The Trump administration is weighing looser sanctions on shadow fleet tankers that have hauled oil from Russia, Iran, and Venezuela, a US official said on 14 October, Reuters reported. An industry research group expects the change to do little for freight rates.

With Reuters calling high fuel prices a risk for Trump before the 3 November midterms, Washington has already eased sanctions on Russian oil and diesel this year and is now looking at the ships blacklisted for hauling sanctioned cargoes. In March, Treasury Secretary Scott Bessent said a waiver on Russian oil at sea would bring Moscow no significant financial benefit, yet Russia’s seaborne oil income jumped by $890 million in the week to 15 March, Bloomberg data showed.

“Legal oil” on blacklisted ships

The talks center on letting “legal oil” sail on previously sanctioned vessels, the official said. Only crude or fuel free of US sanctions would qualify, not Russian or Iranian oil. Washington wants more crude and refined products moving out of the Gulf, the official added. Companies would need US Treasury approval to use the ships.

ukraine goes back hitting russian oil after its trump-forced pause left kyiv without warnings incoming ballistic missiles · post ukrainian president volodymyr zelenskyy during interview piers morgan london 14 2026
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Ukraine is going back to hitting Russian oil after its Trump-pressured pause, during which Kyiv got no US warnings of incoming ballistic missiles

Research group Energy Aspects said US Energy Secretary Chris Wright, in a video to the World Petroleum Congress in Riyadh, tied the easing to record freight rates. Those rates hit records after the Iran and Ukraine wars drove up inflation and left US crude too costly for Asian refiners, Reuters said. Energy Aspects itself expects the easing to do little for freight rates, since most tankers sanctioned over Russian or Venezuelan links have kept trading for the past three months.

The Energy Department said any relief would do nothing to help Russia ship its oil or refined products. Treasury referred questions to the Energy Department. Yet Reuters noted that both departments could face pressure to let these vessels carry Russian diesel, given Trump’s push to get it onto world markets fast.

Britain is pushing the other way. UK finance minister John Healey urged counterparts at International Monetary Fund meetings in Bangkok on 15 October to keep tough sanctions on Russia, “especially a tighter ban on shipping services” that keep Putin’s shadow fleet operating.

Diesel license criticism and an unconfirmed ceasefire

On 9 October, the US Treasury issued a license clearing Russian-origin diesel trade until 7 April 2027. Ukrainian President Volodymyr Zelenskyy told reporters it was a weak decision unworthy of Ukraine’s partners. Democratic Senators Jeanne Shaheen, Chuck Schumer, and Elizabeth Warren called it a “total betrayal of Ukraine.” Republican Senator Thom Tillis said there is “a legitimate case for saying the president’s not following the law.”

The White House in Washington DC, USA. Illustrative image: Wikimedia Commons.
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“He thinks Ukraine is a weak link and that it needs to be squeezed into giving in”: diplomat on why Trump pressures Kyiv, not Moscow

Trump then pressed Kyiv to spare Russian refineries and declared an “energy ceasefire” on 11 October. A White House official told Axios it covers only oil refineries. Neither side confirmed a similar announcement Trump made in mid-September, AAP reported.

Kremlin spokesperson Dmitry Peskov told reporters on 13 October that contacts on the ceasefire were continuing and referred further questions to Trump, Russian newspaper Vedomosti reported. He claimed the diesel deal was “a very mutually beneficial item of Russian-American cooperation” that serves the interests of Russia, the US, and world energy markets, Russian newspaper Kommersant reported.

Ukraine is going back to hitting Russian oil after its Trump-pressured pause, during which Kyiv got no US warnings of incoming ballistic missiles

15 October 2026 at 08:25

ukraine goes back hitting russian oil after its trump-forced pause left kyiv without warnings incoming ballistic missiles · post ukrainian president volodymyr zelenskyy during interview piers morgan london 14 2026

Ukraine will resume strikes on Russian oil refineries, ending a three-day pause it held at Washington’s request, Ukrainian President Volodymyr Zelenskyy told the Financial Times in an interview published on 15 October. Russia kept bombing Ukraine’s energy system throughout the pause, while Kyiv lost US missile warnings and its Starlink service slowed. Zelenskyy said Ukraine would halt energy strikes again only in exchange for more US air defense.

Ukraine's deep-strike campaign targets the Russian oil industry, which fuels Russia's army in Ukraine and earns the export revenue funding the war. Striking the plants that turn Russian crude into fuel, 12 of them hit in September alone, is one of the few levers Kyiv controls on Moscow’s war income. US President Donald Trump has blamed those strikes for higher US fuel prices, which most analysts attribute to the Iran war, and Washington has threatened to withhold intelligence, and reportedly weapons, unless Kyiv gives it up. Each step Washington takes toward Moscow, from fuel waivers to talk of frozen assets, widens the gap Europe and Ukraine must fill, while Russia gains revenue and time to keep striking.

A pause that bought nothing

Zelenskyy said he stopped the refinery strikes for three days to meet US wishes, but Russia kept hitting Ukraine’s energy infrastructure and killing civilians. During the pause, Ukraine received no US warnings of ballistic missile launches, he said. Starlink also slowed across the country, hampering front-line operations and mid-range strikes on Russian military targets, he added.

Russia used those days to fire 39 ballistic missiles and more than 120 drones at Ukraine’s grid overnight into 14 October, leaving at least 600,000 people without power. “We hold energy ceasefire from our side,” Zelenskyy told Piers Morgan on 14 October. Of the Starlink slowdown, he added: “I’m sure that they knew what they did.”

The price of another pause

Ukraine could again stop hitting Russian energy only if it receives more US interceptors for its Patriot systems, Zelenskyy told the FT. He warned that a halt could simply invite more US-Russia deals that feed Russia’s war machine, and predicted the next one would involve gas.

kyiv asking musk let strike inside russia its best line gone · post elon 2026 world economic forum / ciaran mccrickard wef ukraine news ukrainian reports
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“Starshield systems are owned and controlled by the US government”: Musk says Trump, not SpaceX, is behind cut hitting Ukraine

US intelligence officials had warned Ukraine’s embassy in Washington that a new strike on Russia’s energy facilities would end all intelligence sharing at once, The Washington Post reported, citing a person familiar with the matter. Washington has not fully cut it off, but the threat stands, the person said. Trump said on 13 October that the US was still sharing intelligence.

Washington’s other moves toward Moscow

A senior US official told Axios the administration had nothing to do with the Starlink limits, which Elon Musk had blamed on the US military. The administration is also considering easing sanctions on shadow fleet tankers, which have carried oil from Russia, Iran, and Venezuela, so the blacklisted vessels could haul non-sanctioned cargo, a US official told Reuters. The US Energy Department said the move would not help Russia ship its oil or fuel.

Washington eased sanctions on Russian oil this spring, after which Russia’s oil income jumped $890 million in a week, and it extended that waiver despite telling allies it would not. US envoys also proposed unfreezing part of Russia’s frozen assets to lure Moscow back to talks, an idea European officials rejected, the Financial Times reported.

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