Russia's Diesel Export Ban Triggers Largest U.S. Futures Jump in Four Years

Russia banned diesel exports through July 31, 2026, after Ukrainian drone strikes hit refineries, Reuters reported. U.S. diesel futures — contracts to buy fuel at a set price later — posted their biggest daily gain in four years. The ban worsened a global supply crunch driven by years of Western refinery closures and strong post-pandemic demand, hitting anyone who heats a home, runs a truck, or pays shipping costs.