Russia to temporarily ban oil product imports – Interfax

25 May 2020, 10:44 by Eren Sengezer

Russia has decided to impose a temporary ban on oil product imports until October 1st, Reuters reported on Monday, citing Interfax news agency.

The ban will include gasoline, jet fuel and high-quality diesel.

Market reaction

Crude oil's reaction to this headline was muted. As of writing, the barrel of West Texas Intermediate (WTI) was trading at $33.45, losing 0.4% on a daily basis.

Last week, the WTI gained 12.67% and closed the fourth straight week in the positive territory. In May, the WTI is up around 75%.