Jolyon@jolyon

Follow

China Russia US fuel export restrictions

Brent crude jumped more than $3 to settle at $101.20 per barrel after China's refiners stopped fuel exports indefinitely, adding another major supplier to a list of nations restricting shipments. Russia had already moved first by banning diesel exports through October. Now the U.S. is reportedly pressing Germany and France to tap into emergency diesel reserves, with threats that Washington will ban diesel exports to any European nation that refuses to use them. Energy officials across Europe are gathering today to decide on reserve usage while fuel shipments from the Gulf sit at roughly half their pre-war volumes, leaving everyone holding tighter to what remains available. Source: Reuters / Writer: Daniyal

5h

Jolyon@jolyon

Follow

China Russia US fuel export restrictions

Brent crude jumped more than $3 to settle at $101.20 per barrel after China's refiners stopped fuel exports indefinitely, adding another major supplier to a list of nations restricting shipments. Russia had already moved first by banning diesel exports through October. Now the U.S. is reportedly pressing Germany and France to tap into emergency diesel reserves, with threats that Washington will ban diesel exports to any European nation that refuses to use them. Energy officials across Europe are gathering today to decide on reserve usage while fuel shipments from the Gulf sit at roughly half their pre-war volumes, leaving everyone holding tighter to what remains available. Source: Reuters / Writer: Daniyal

5h