China’s ban on exports of diesel, petrol and jet fuel is poised to exacerbate fuel shortages and further boost prices for Asian industry and transportation buyers already grappling with tightening supplies caused by the US-Israeli war against Iran. Even before the ban, Asian refiners were scrambling to secure alternative crude shipments while several refineries in the Gulf, many of which ship fuel to Asia, have shut since the war halted shipping via the critical Strait of Hormuz route. China, the world’s top oil importer, last week banned fuel exports until at least the end of March, in an attempt to pre-empt domestic shortages, sources said, curbing exports that last year totalled US$22 billion.

Full report : China’s fuel export ban to further tighten Asia supply.