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Global diesel tightness prompts new fuel export restrictions
China imposed a monthlong ban on fuel exports, while Russia has kept a diesel export ban in place for months and the US has threatened Europe with a diesel export ban unless storage releases begin.
Global fuel stocks are extremely tight, according to OilPrice, with the squeeze described as potentially the tightest on record.
China has imposed a ban on all fuel exports for the month, while Russia has had a diesel export ban in place for months, adding to supply constraints.
OilPrice also says the United States threatened Europe with a diesel export ban unless European countries release some fuel from storage, reflecting a shift toward prioritizing national fuel needs.
The outlet frames the developing situation as increasingly driven by fuel controls rather than broader market factors, as multiple countries focus on their own supplies.