Oil prices rose around 2% after Chinese refiners suspended oil product exports beyond Hong Kong and Macau until further notice. Brent traded at $100.09 a barrel and WTI at $92.48.
Brent crude traded at $100.09 per barrel at 0829 GMT, up 2.1%, or $2.06, from Wednesday’s close. WTI rose $2.06, or 2.28%, to $92.48 a barrel after prices had fallen more than 1% earlier in the session.
Chinese refiners suspended oil product exports to regions beyond Hong Kong and Macau until further notice, four sources said. UBS analyst Giovanni Staunovo said the move suggests concern about domestic product availability; he said it remains to be seen whether it will support higher crude imports.
Global diesel supplies have tightened as refining capacity has fallen following attacks linked to the Middle East and Ukraine wars. The Trump administration urged Germany and France to draw down emergency diesel inventories or face a potential U.S. diesel export ban, three sources said. Goldman Sachs estimated Gulf oil exports, including dark exports, averaged 23.3 million barrels per day over the past week, in line with the 2025 average.
