China's Oil Export Suspension Drives Global Fuel Market Uncertainty

Oil prices surged by approximately 2% following China's decision to suspend oil product exports beyond Hong Kong and Macau, sparking concerns about fuel supply disruptions.

The Brent crude futures increased 2.1% to $100.09 per barrel, while WTI rose 2.28% to $92.48 per barrel.

Investors remained vigilant as they monitored diplomatic discussions between the US and Iran, alongside developments in Middle East oil exports and supply routes.

The move by China added pressure to global fuel markets already affected by supply disruptions linked to reduced refining capacity in the Middle East and Ukraine.