Russia declared a six-month export ban on gasoline effective on March 1, 2024. The ban is intended to stabilize domestic prices and allow for extended refinery maintenance.
Drone attacks and fires have damaged or disabled several Russian refineries in recent months, including Lukoil’s Novgorod refinery. The Novgorod refinery is Russia’s fourth largest. The ban is expected to safeguard domestic supplies ahead of Russia’s peak demand season, June through August.
This is the second gasoline export ban enacted by Russia in less than six months. A similar ban was imposed between September and November 2023. However, there are several differences.
One major difference, according to Oilprice.com, is “there are no plans to ban diesel exports.” A diesel export ban would have exasperated fears within the diesel supply market, especially for Europe and Brazil.
…
12.12.2024
California LCFS credit volumes rise, prices fall week on week
California Low Carbon Fuel Standard (LCFS) credit volumes were up sharply while the average credit price declined in the week ended Sunday December 8, figures released on Wednesday December...
12.12.2024
Grease prices continue to soften while Gulf UCO trades stable to higher
The US animal fats and oils markets continued to show mixed dynamics on Thursday December 12, with tallow markets remaining notably quiet while grease prices continued to soften across...
12.12.2024
Looming port strike adds negative price risk to animal protein markets: sources
Negative sentiment continued to hang over the meat and bone meal (MBM) markets on Thursday December 12, although trading reports were limited throughout the day.
Much of the...