China orders immediate ban on fuel exports for March — Reuters

The Chinese government has effectively banned refined fuel exports for March “with immediate effect”, Reuters reported on Thursday. This measure comes as another step to pre-empt a potential domestic fuel shortage caused by the US-Israeli war on Iran.

According to the sources, the National Development and Reform Commission (NDRC) banned shipments of gasoline, diesel, and aviation fuel. 

Market reaction

At the time of writing, the West Texas Intermediate (WTI) is up 6.00% on the day at $92.16. 

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