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9/21/2023, 5:44 PM (Source: TeleTrader)
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Oil prices rise after Russia limits fuel exports

Prices of oil futures reversed course on Thursday, rising after Russia announced "temporary restrictions on the export of motor gasoline and diesel fuel ... to stabilize the domestic market," but noted that certain exemptions exist.

Russian Deputy Prime Minister Alexander Novak said yesterday that the government is considering "drastic decisions" that will be made if they are needed to lower fuel prices on the domestic wholesale market.

For settlements in November, West Texas Intermediate (WTI) advanced by 0.79% to $90.27 per barrel and Brent increased by 0.55% to $93.95 per barrel at 11:33 am ET.

Baha Breaking News (BBN) / MS