Topics

Posted 9/22/2023, 12:08:00 PM

Russia Bans Gasoline and Diesel Exports, Putting Pressure on Global Energy Markets

Russia has banned exports of gasoline and diesel to stabilize domestic fuel prices and support its military operations in Ukraine.
The ban could put indirect pressure on U.S. gas prices by lifting global benchmark futures prices.
The ban is unusual since Russia is a major oil and gas exporter and relies on energy sales for government revenue.
China, India, and Turkey are likely to be the most impacted since they have replaced Europe as top buyers of Russian oil and gas.
The ban may further raise diesel prices in Europe, which are already high due to lack of refining capacity and rising crude oil prices.

fortune.com

Relevant topic timeline:

9/6/2023

G7 shelves regular Russian oil cap reviews as prices soar, sources say

The G7 and its allies have halted regular reviews of the Russian oil price cap scheme, allowing Russian producers to sell oil above the limit due to a rally in global crude prices and the use of non-Western ships and insurance services.

9/21/2023

Russia Bans Petrol and Diesel Exports to Stabilize Domestic Market Amid Price Spikes

Russia has banned the export of petrol and diesel to countries outside of a specific ex-Soviet circle in order to stabilize the domestic fuel market and reduce prices for consumers.

9/22/2023

Oil Prices Rise on Supply Concerns After Russia Bans Fuel Exports

The recent global supply concerns caused by Russia's fuel export ban are driving up oil prices, counteracting the demand fears driven by macroeconomic headwinds and high interest rates.

9/22/2023

Oil Prices Jump Over 1% as Russia Bans Fuel Exports, Raising Supply Concerns

Oil prices rose over 1% after Russia implemented an export ban on diesel and gas, which aims to replenish domestic supply and reduce prices, potentially impacting global oil supply and driving up energy prices, excluding demand shrinkage, while also predicting easing gas prices in the US except for some western states.

9/22/2023

Russia's Diesel Export Ban Could Spike Prices and Inflation in Europe

Russia's decision to ban diesel exports to most countries, including the European Union, could lead to higher diesel prices and a possible uptick in inflation in Europe, as Russia is the world's biggest exporter of diesel accounting for over 13% of global supply.

9/25/2023

Oil Prices Near $100 as Russia Benefits From Production Cuts Despite Sanctions

Higher oil prices, boosted by supply cuts from Saudi Arabia and Russia, may benefit Russia's oil revenues by allowing them to sell crude over the $60-a-barrel price cap imposed by sanctions.

9/25/2023

Russia Skirts G7 Oil Price Cap, Boosting Export Revenues by Billions

Almost three-quarters of Russia's seaborne oil exports are avoiding Western insurers, allowing the country to bypass the G7 price cap and increase its oil export revenues by $15 billion this year.

10/6/2023

Russia Lifts Ban on Diesel Exports, Removes Bulk of Fuel Export Restrictions

Russia has lifted the ban on pipeline diesel exports via ports, which were installed on September 21st, however, restrictions on gasoline exports are still in place.

10/6/2023

Fuel prices set to fall as oil price plummets after Russia lifts export ban

Diesel prices are expected to decrease after Russia lifted a ban on oil exports, causing a drop in global supplies and a decrease in fuel costs.

10/12/2023

U.S. Imposes First Sanctions on Shipping Firms for Violating Russian Oil Price Cap

The United States has imposed sanctions on two shipping companies for violating the oil price cap designed to diminish Russia's energy export revenue and prevent them from benefiting from soaring energy prices.

10/13/2023

Russian Oil Exporters Skirt Price Cap and Sanctions, Earning Big Profits

Russian crude oil producers are able to ship to refiners in China and India at the cheapest costs in almost a year due to the increasing number of vessels plying these routes, allowing them to earn more than the imposed $60 per barrel cap on Russia through sanctions.

Topics

Posted 9/22/2023, 12:08:00 PM

Russia Bans Gasoline and Diesel Exports, Putting Pressure on Global Energy Markets

Russia has banned exports of gasoline and diesel to stabilize domestic fuel prices and support its military operations in Ukraine.
The ban could put indirect pressure on U.S. gas prices by lifting global benchmark futures prices.
The ban is unusual since Russia is a major oil and gas exporter and relies on energy sales for government revenue.
China, India, and Turkey are likely to be the most impacted since they have replaced Europe as top buyers of Russian oil and gas.
The ban may further raise diesel prices in Europe, which are already high due to lack of refining capacity and rising crude oil prices.

fortune.com

Relevant topic timeline:

9/6/2023

G7 shelves regular Russian oil cap reviews as prices soar, sources say

9/21/2023

Russia Bans Petrol and Diesel Exports to Stabilize Domestic Market Amid Price Spikes

Russia has banned the export of petrol and diesel to countries outside of a specific ex-Soviet circle in order to stabilize the domestic fuel market and reduce prices for consumers.

9/22/2023

Oil Prices Rise on Supply Concerns After Russia Bans Fuel Exports

The recent global supply concerns caused by Russia's fuel export ban are driving up oil prices, counteracting the demand fears driven by macroeconomic headwinds and high interest rates.

9/22/2023

Oil Prices Jump Over 1% as Russia Bans Fuel Exports, Raising Supply Concerns

9/22/2023

Russia's Diesel Export Ban Could Spike Prices and Inflation in Europe

9/25/2023

Oil Prices Near $100 as Russia Benefits From Production Cuts Despite Sanctions

Higher oil prices, boosted by supply cuts from Saudi Arabia and Russia, may benefit Russia's oil revenues by allowing them to sell crude over the $60-a-barrel price cap imposed by sanctions.

9/25/2023

Russia Skirts G7 Oil Price Cap, Boosting Export Revenues by Billions

Almost three-quarters of Russia's seaborne oil exports are avoiding Western insurers, allowing the country to bypass the G7 price cap and increase its oil export revenues by $15 billion this year.

10/6/2023

Russia Lifts Ban on Diesel Exports, Removes Bulk of Fuel Export Restrictions

Russia has lifted the ban on pipeline diesel exports via ports, which were installed on September 21st, however, restrictions on gasoline exports are still in place.

10/6/2023

Fuel prices set to fall as oil price plummets after Russia lifts export ban

Diesel prices are expected to decrease after Russia lifted a ban on oil exports, causing a drop in global supplies and a decrease in fuel costs.

10/12/2023

U.S. Imposes First Sanctions on Shipping Firms for Violating Russian Oil Price Cap

10/13/2023

Russian Oil Exporters Skirt Price Cap and Sanctions, Earning Big Profits