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China Halts Fuel Exports, Brent Crude Price Reaches $102.25 Amid Mixed Market Signals

Guavy AI Editorial Team
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The Brent Crude price has risen to $102.25 per barrel after Chinese refiners suspended diesel, petrol, and jet fuel exports until further notice.

This move comes on top of Russia's ongoing diesel export ban, which is in effect through October 31st.

Meanwhile, Saudi Arabia has resumed tanker loadings from Yanbu and restarted the East-West Pipeline, contributing to a recovery in Gulf crude exports.

The combination of these two factors has led to a mixed market signal, with Brent prices stabilizing around $102 per barrel. According to Goldman Sachs, Gulf exports are now at 23.3 million barrels per day.

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