⚡️🇷🇺🇺🇦🇺🇸 —Russia is set to extend its ban on most diesel exports beyond the end of September, according to people familiar with the matter. The ban, enacted in July as Ukrainian strikes dragged oil-processing rates to multiyear lows, was extended through August and then to the end of September; as of last week, Moscow was studying another one-month extension. The people said there is an understanding the ban will be extended, with prolonging the curbs by another month or more under consideration — Bloomberg.

➡️ Before the restrictions, Russia accounted for roughly 10% of global seaborne diesel supplies; withdrawing those volumes compounded the effects of disruption to Middle Eastern flows, supporting prices. US President Donald Trump recently blamed the price hikes on the Russia-Ukraine conflict rather than on the Iran war, which Bloomberg described as one he started; analyst estimates compiled by Bloomberg show the Middle East war has removed more diesel supply from the market than the Russia-Ukraine conflict.

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