Western sanctions against Russia's oil and gas industry caused a short-term rise in diesel prices
New US and European Union sanctions against of the Russian oil and gas sector, led to temporary increase in diesel prices in the global markets.
According to the agency Reuters, traders observe a sharp but short-term increase in quotations due to uncertainty about the logistics of supplies from regions that previously used Russian fuel.
«The market reacted with an immediate price increase, but it is expected to stabilise in the coming weeks as alternative supply routes operate normally,» analysts say.
Supply remains stable
Despite the sanctions, Global diesel stocks remain at a comfortable level, and the Gulf states, the United States and India increased production and exports fuel.
Experts believe that this will help avoid shortages and significant price fluctuations in the medium term.
«The market situation is stable. Short-term fluctuations are a common reaction to political news, not a real deficit,» Reuters said.
Context.
New Western sanctions limit Export of technology, equipment and financing for the Russian energy sector, as well as transit of Russian oil products through third countries.
Washington and Brussels see them as part of the Increased economic pressure on Moscow after Russia's massive attacks on Ukraine's energy infrastructure.
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