Russia Blocks Diesel Exports, Sending U.S. Fuel Prices Soaring

Russia stopped selling diesel abroad through July 31, 2026, after Ukrainian drone strikes damaged its refineries, Reuters reported. The price of future U.S. diesel deliveries saw its biggest one-day jump in four years. The ban tightened a global fuel shortage already worsened by years of Western refinery closures and strong demand after the pandemic — hitting anyone who heats a home, drives a truck, or pays for shipping.