{"id":21693,"date":"2023-09-24T01:13:28","date_gmt":"2023-09-24T01:13:28","guid":{"rendered":"https:\/\/microloannexus.com\/investing\/crude-oil-futures-eke-out-modest-weekly-gains-after-russia-bans-gas-and-diesel-exports\/"},"modified":"2023-09-24T01:13:29","modified_gmt":"2023-09-24T01:13:29","slug":"crude-oil-futures-eke-out-modest-weekly-gains-after-russia-bans-gas-and-diesel-exports","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=21693","title":{"rendered":"Crude oil futures eke out modest weekly gains after Russia bans gas and diesel exports"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002535106\" role=\"document\">\n<p>Oil prices settled higher on Friday to post a modest gain for the week, following Russia\u2019s decision a day earlier to temporarily ban the export of diesel and gasoline, which has pushed up prices in Europe.<\/p>\n<h2>Price action<\/h2>\n<ul class=\"articleList\">\n<li>\n      West Texas Intermediate crude futures\u00a0for November delivery<br \/>\n        CL00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209723049\/delayed\" class=\"positive\">+0.33%<\/bg-quote><\/p>\n<p>        CLX23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209727121\/delayed\" class=\"positive\">+0.33%<\/bg-quote><br \/>\n       edged up 40 cents, or 0.5%, to settle at $90.03 a barrel on the New York Mercantile Exchange, scoring a modest weekly advance of 0.01%, according to Dow Jones Market Data. <\/p>\n<\/li>\n<li>\n      November Brent crude futures<br \/>\n        BRN00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209704782\/delayed\" class=\"positive\">+0.51%<\/bg-quote><\/p>\n<p>        BRNX23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209705773\/delayed\" class=\"positive\">+0.60%<\/bg-quote><br \/>\n       were off 3 cents, leaving it nearly flat at $93.27 a barrel on ICE Futures Europe. For the week, they booked a loss of 0.7%. <\/p>\n<\/li>\n<li>\n      October gasoline<br \/>\n        RBV23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/215376529\/delayed\" class=\"positive\">+0.34%<\/bg-quote><br \/>\n       declined by 5 cents, or 2.2%, to end at $2.5618 a gallon, logging a weekly decline of 5.4%, while October heating oil<br \/>\n        HOV23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/215376448\/delayed\" class=\"positive\">+1.06%<\/bg-quote><br \/>\n       fell 6 cents, or 1.8%, to finish at $3.3062 a gallon, suffering a weekly drop of 2.3%. <\/p>\n<\/li>\n<li>\n      November natural gas<br \/>\n        NGX23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210194966\/delayed\" class=\"positive\">+0.31%<\/bg-quote><br \/>\n       rose 2 cents, or 1%, to settle at $2.6370 per million British thermal units, but settling down 0.3% for the week, according to Dow Jones Market Data. <\/p>\n<\/li>\n<\/ul>\n<h2>Market drivers<\/h2>\n<p>U.S. energy prices settled modestly higher on Friday afternoon, a day after Russia announced a temporary ban on exports of gasoline and diesel\u00a0outside a small circle of closely allied states to keep supplies available for processing the annual wheat harvest, in particular. <\/p>\n<div class=\"paywall\">\n<p>Russia is one of the world\u2019s biggest seaborne exporters of diesel and the ban follows a fall in shipments earlier this month, which helped push up diesel prices in Europe. <\/p>\n<p>\u201cWe suspect that the ban will remain in place at least for a month or so, until the harvest is complete,\u201d said Edward Gardner, commodities economist at Capital Economics, in a Friday note. Then, Russia is expected to unwind it to take advantage of high crack spreads, which is the overall pricing difference between crude oil and the petroleum products refined from it. <\/p>\n<p>However, Gardner said the ban will still support crude oil prices while it is in place, as higher crack spreads will incentivize non-Russian refineries to increase crude oil throughput.  <\/p>\n<p><strong>See: <\/strong>Could rising oil prices tip the U.S. into a recession? Here\u2019s why investors are nowhere near having to worry about it.<\/p>\n<p>Russia\u2019s announcement is the latest in a series of production cuts and supply restrictions that have helped prop up energy prices since mid-July.<\/p>\n<p>Rising oil prices contributed to consumer prices rising in the U.S. in August, and as inflation expectations rise, they could complicate the Federal Reserve\u2019s mission to tame inflation, potentially creating problems for global equity markets. <\/p>\n<p>Many analysts expect crude prices in the U.S. and in international markets to move up to, or past, $100 a barrel, a level oil hasn\u2019t seen since last year. <\/p>\n<p>\u201cBrent\u00a0oil\u00a0has already surpassed the $95 level and could climb towards $100 if the OPEC+ continues to withhold supply,\u201d said Fawad Razaqzada, market analyst at City Index and FOREX.com, in emailed commentary.  <\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/crude-oil-prices-climb-after-russia-bans-gas-and-diesel-exports-a84fb9ab?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices settled higher on Friday to post a modest gain for the week, following Russia\u2019s decision a day earlier to temporarily ban the export of diesel and gasoline, which has pushed up prices in Europe. Price action West Texas Intermediate crude futures\u00a0for November delivery CL00, +0.33% CLX23, +0.33% edged up 40 cents, or 0.5%,<\/p>\n","protected":false},"author":1,"featured_media":21694,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"class_list":{"0":"post-21693","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Crude oil futures eke out modest weekly gains after Russia bans gas and diesel exports | Micro Loan Nexus<\/title>\n<meta name=\"description\" content=\"Oil prices settled higher on Friday to post a modest gain for the week, following Russia\u2019s decision a day earlier to temporarily ban the export of diesel\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/microloannexus.com\/?p=21693\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crude oil futures eke out modest weekly gains after Russia bans gas and diesel exports | Micro Loan Nexus\" \/>\n<meta property=\"og:description\" content=\"Oil prices settled higher on Friday to post a modest gain for the week, following Russia\u2019s decision a day earlier to temporarily ban the export of diesel\" \/>\n<meta property=\"og:url\" content=\"https:\/\/microloannexus.com\/?p=21693\" \/>\n<meta property=\"og:site_name\" content=\"Micro Loan Nexus\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-24T01:13:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-24T01:13:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/09\/1695518009_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/microloannexus.com\/?p=21693#article\",\"isPartOf\":{\"@id\":\"https:\/\/microloannexus.com\/?p=21693\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/microloannexus.com\/#\/schema\/person\/e2d3b62d35ac325be68540d68dc6660a\"},\"headline\":\"Crude oil futures eke out modest weekly gains after Russia bans gas and diesel exports\",\"datePublished\":\"2023-09-24T01:13:28+00:00\",\"dateModified\":\"2023-09-24T01:13:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/microloannexus.com\/?p=21693\"},\"wordCount\":502,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/microloannexus.com\/#organization\"},\"articleSection\":[\"Investing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/microloannexus.com\/?p=21693#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/microloannexus.com\/?p=21693\",\"url\":\"https:\/\/microloannexus.com\/?p=21693\",\"name\":\"Crude oil futures eke out modest weekly gains after Russia bans gas and diesel exports | Micro Loan Nexus\",\"isPartOf\":{\"@id\":\"https:\/\/microloannexus.com\/#website\"},\"datePublished\":\"2023-09-24T01:13:28+00:00\",\"dateModified\":\"2023-09-24T01:13:29+00:00\",\"description\":\"Oil prices settled higher on Friday to post a modest gain for the week, following Russia\u2019s decision a day earlier to temporarily ban the export of diesel\",\"breadcrumb\":{\"@id\":\"https:\/\/microloannexus.com\/?p=21693#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/microloannexus.com\/?p=21693\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/microloannexus.com\/?p=21693#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/microloannexus.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Crude oil futures eke out modest weekly gains after Russia bans gas and diesel exports\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/microloannexus.com\/#website\",\"url\":\"https:\/\/microloannexus.com\/\",\"name\":\"Solutions For Real\",\"description\":\"Latest Finance News and Updates\",\"publisher\":{\"@id\":\"https:\/\/microloannexus.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/microloannexus.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/microloannexus.com\/#organization\",\"name\":\"Solutions For Real\",\"url\":\"https:\/\/microloannexus.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/microloannexus.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png\",\"contentUrl\":\"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png\",\"width\":690,\"height\":64,\"caption\":\"Solutions For Real\"},\"image\":{\"@id\":\"https:\/\/microloannexus.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/microloannexus.com\/#\/schema\/person\/e2d3b62d35ac325be68540d68dc6660a\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/microloannexus.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png\",\"contentUrl\":\"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/microloannexus.com\"],\"url\":\"https:\/\/microloannexus.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Crude oil futures eke out modest weekly gains after Russia bans gas and diesel exports | Micro Loan Nexus","description":"Oil prices settled higher on Friday to post a modest gain for the week, following Russia\u2019s decision a day earlier to temporarily ban the export of diesel","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/microloannexus.com\/?p=21693","og_locale":"en_US","og_type":"article","og_title":"Crude oil futures eke out modest weekly gains after Russia bans gas and diesel exports | Micro Loan Nexus","og_description":"Oil prices settled higher on Friday to post a modest gain for the week, following Russia\u2019s decision a day earlier to temporarily ban the export of diesel","og_url":"https:\/\/microloannexus.com\/?p=21693","og_site_name":"Micro Loan Nexus","article_published_time":"2023-09-24T01:13:28+00:00","article_modified_time":"2023-09-24T01:13:29+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/09\/1695518009_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/microloannexus.com\/?p=21693#article","isPartOf":{"@id":"https:\/\/microloannexus.com\/?p=21693"},"author":{"name":"News Room","@id":"https:\/\/microloannexus.com\/#\/schema\/person\/e2d3b62d35ac325be68540d68dc6660a"},"headline":"Crude oil futures eke out modest weekly gains after Russia bans gas and diesel exports","datePublished":"2023-09-24T01:13:28+00:00","dateModified":"2023-09-24T01:13:29+00:00","mainEntityOfPage":{"@id":"https:\/\/microloannexus.com\/?p=21693"},"wordCount":502,"commentCount":0,"publisher":{"@id":"https:\/\/microloannexus.com\/#organization"},"articleSection":["Investing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/microloannexus.com\/?p=21693#respond"]}]},{"@type":"WebPage","@id":"https:\/\/microloannexus.com\/?p=21693","url":"https:\/\/microloannexus.com\/?p=21693","name":"Crude oil futures eke out modest weekly gains after Russia bans gas and diesel exports | Micro Loan Nexus","isPartOf":{"@id":"https:\/\/microloannexus.com\/#website"},"datePublished":"2023-09-24T01:13:28+00:00","dateModified":"2023-09-24T01:13:29+00:00","description":"Oil prices settled higher on Friday to post a modest gain for the week, following Russia\u2019s decision a day earlier to temporarily ban the export of diesel","breadcrumb":{"@id":"https:\/\/microloannexus.com\/?p=21693#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/microloannexus.com\/?p=21693"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/microloannexus.com\/?p=21693#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/microloannexus.com\/"},{"@type":"ListItem","position":2,"name":"Crude oil futures eke out modest weekly gains after Russia bans gas and diesel exports"}]},{"@type":"WebSite","@id":"https:\/\/microloannexus.com\/#website","url":"https:\/\/microloannexus.com\/","name":"Solutions For Real","description":"Latest Finance News and Updates","publisher":{"@id":"https:\/\/microloannexus.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/microloannexus.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/microloannexus.com\/#organization","name":"Solutions For Real","url":"https:\/\/microloannexus.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/microloannexus.com\/#\/schema\/logo\/image\/","url":"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png","contentUrl":"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png","width":690,"height":64,"caption":"Solutions For Real"},"image":{"@id":"https:\/\/microloannexus.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/microloannexus.com\/#\/schema\/person\/e2d3b62d35ac325be68540d68dc6660a","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/microloannexus.com\/#\/schema\/person\/image\/","url":"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png","contentUrl":"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png","caption":"News Room"},"sameAs":["https:\/\/microloannexus.com"],"url":"https:\/\/microloannexus.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/posts\/21693","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/microloannexus.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21693"}],"version-history":[{"count":1,"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/posts\/21693\/revisions"}],"predecessor-version":[{"id":21695,"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/posts\/21693\/revisions\/21695"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/media\/21694"}],"wp:attachment":[{"href":"https:\/\/microloannexus.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/microloannexus.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21693"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/microloannexus.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}