Russia's Diesel Export Ban Sparked Biggest U.S. Futures Jump in Four Years

Russia banned diesel exports through July 31, 2026, after Ukrainian drone strikes targeted refineries, Reuters reported. U.S. diesel futures posted their largest daily gains in four years on the news. The ban deepened a global supply crunch built on years of Western refinery closures and strong post-pandemic demand — hitting anyone who heats a home, runs a truck, or pays shipping costs.