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Market move● Neutral for Indian equities
100M oil barrels to hit markets: G7 makes big move after Trump’s diesel export ban threat
- Diesel boom lifts Reliance and Nayara, leaves state-run OMCs bleeding
- Nayara raises petrol by ₹5, diesel by ₹3 per litre
- LPG consumption down, diesel & petrol sales up in September
- Petrol, Diesel Prices On October 3: Check New Fuel Rates In Mumbai, Bengaluru, Chennai, Kolkata And More
- Trump Says US To Hold Off On Diesel Export Ban After G7 Release
Diesel export-ban threat and G7 reserve release
Amid supply disruptions linked to wars in the Middle East and Ukraine, Trump threatened to ban US diesel exports unless European allies released reserves; a ban could remove about 1.2 million barrels a day from global supply. The G7 agreed to release 100 million barrels of oil and fuel over four months, including frontloaded diesel supplies.
Saturday, 3 October
- 100M oil barrels to hit markets: G7 makes big move after Trump’s diesel export ban threat