Oil prices near two-week lows, diesel profits hit a record due to rumors of a U.S. export ban
2026-09-23 22:55:53
According to CoinMeta, oil prices are near two-week lows, and diesel profits have reached record levels due to rumors of a U.S. export ban. Brent crude oil touched $97.36 per barrel on Tuesday, the lowest level since September 8. Although available crude oil may ease pressure on oil prices, shortages of diesel and discussions about a U.S. export ban have kept refining fuel costs high. The International Energy Agency pointed out that disruptions in supply from the Middle East, attacks on Russian refineries, and limited global refining capacity are reasons why diesel prices have risen faster than crude oil prices. Saudi Arabia has restarted the East-West pipeline after a drone attack, allowing some exports to bypass the Strait of Hormuz. Iraq has stated that it is increasing exports, further improving the prospects for crude oil supply. Despite improvements in oil supply, the required fuel is still scarce, which makes the impact of diesel prices on inflation evident.
Source:Coinpaper
This content is for market information only and does not constitute investment advice.
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