Global Diesel Crunch Deepens as Russia Bans Exports Through July

Russia has enacted a full diesel export ban through July 31 after Ukrainian drone strikes disabled over 30% of refining capacity and triggered nationwide fuel shortages. The ban follows earlier gasoline and jet-fuel restrictions as strikes knocked offline 1.2-1.3 million bpd of secondary processing units, including the Kapotnya refinery. Western-port crude loadings have already fallen to 1.7 million bpd in June from 2.5 million bpd in May, forcing Russia to consider fuel imports while fights erupt at gas stations. The move has tightened global diesel markets, pushing European premiums to $60.70 per barrel and US diesel prices up over 13%.