Russia to temporarily ban oil product imports – Interfax
|Russia has decided to impose a temporary ban on oil product imports until October 1st, Reuters reported on Monday, citing Interfax news agency.
The ban will include gasoline, jet fuel and high-quality diesel.
Market reaction
Crude oil's reaction to this headline was muted. As of writing, the barrel of West Texas Intermediate (WTI) was trading at $33.45, losing 0.4% on a daily basis.
Last week, the WTI gained 12.67% and closed the fourth straight week in the positive territory. In May, the WTI is up around 75%.
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