A sense of resource nationalism is gripping the world, whether it involves copper, rare earths, other critical materials or, of course, refined crude products.
Kicking off Thursday, a Reuters report said that the Trump administration has asked Germany and France to release emergency diesel inventories to help create a buffer against the supply squeeze in the industrial fuel or face a potential US diesel export ban.
President Trump has floated a diesel export ban for weeks, while US oil refining executives have warned against it, saying it would only send prices higher.
Now a separate Reuters report says Chinese refiners have suspended October fuel exports as Beijing prioritizes rebuilding domestic stockpiles, threatening to deepen the refining crisis and cause havoc on import-heavy countries.
This adds to a toxic combination of Russian export halts on industrial fuel following Ukrainian attacks on Russian refineries with one-way attack drones and ongoing hostilities at the Hormuz chokepoint. The latest data
