China suspends oil product exports, Brent crude rises above $100
Oil just got pricier: China has suspended exports of oil products to most destinations, outside Hong Kong and Macau, until further notice, pushing prices up by 2%.
Brent crude is now trading above $100 a barrel after a sharp 14% jump last month.
The move has raised concerns about global fuel shortages, especially with ongoing conflicts in the Middle East and Ukraine.
US urges Germany, France tap diesel
With fuel supplies looking tight, the US is asking Germany and France to dip into their emergency diesel reserves to help cool down prices.
Meanwhile, Saudi Arabia has resumed loading oil tankers at Yanbu, following an earlier restart of operations on the East-West Pipeline,
and Iran is talking with Washington about possible cease-fire deals, both moves that could shape what happens next in the oil market.