Economy

Oil prices rise as China halts fuel exports amid US-Iran war

Hindustan Times1h
THE BRIEF
1

Brent crude futures rose 2.1% to top $100 per barrel on Thursday after China suspended oil product exports to most destinations, raising global supply concerns.

2

Chinese refiners halted exports to regions outside Hong Kong and Macau until further notice, while West Texas Intermediate crude increased 2.28% to $92.48 per barrel.

3

Traders continued monitoring diplomatic efforts to end the US-Iran war alongside US pressure on Germany and France to draw down emergency diesel stocks.