EMEA News
Russia Halts Gasoline and Diesel Exports
Russia's government has announced a temporary halt in the country's gasoline and diesel exports.
The temporary halt is aimed at stabilising fuel prices in Russia's domestic market, the government said in a statement on its website on Thursday.
"The temporary restrictions will help to saturate the fuel market, which in turn will reduce prices for consumers," the government said in the statement.
The move is likely to put pressure on already tight global middle distillate markets, which will be noticed in particular in the marine gasoil market.
Ship & Bunker's G20-MGO Index of average prices across 20 leading bunkering locations stood at $1,012.50/mt on Wednesday, up from $958.50/mt a month earlier and from this year's low of $745.50/mt on June 1.
