Russia's Fuel Export Ban Pushes Oil Prices Higher

Russia's recent decision to restrict its diesel and gasoline exports has pushed oil prices higher, countering economic concerns sparked by the Fed's recent reiteration of its “higher for longer” interest rate policy.Friday, September 22nd, 2023Russia’s decision to ban fuel exports for an undetermined period boosted diesel prices again, with Europe seeing a whopping $45 per metric tonne day-to-day surge on its middle distillates. The rise in distillates also pushed oil prices higher, countering the downward pressure…