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The Economic Times

Economy / The Economic Times

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Crude prices back above $101 as China suspends oil exports

Oil prices experienced a 2% rise as China halted oil product exports to regions outside Hong Kong and Macau. This suspension is likely to tighten fuel markets which are already dealing with supply shortages globally. Investors are reacting to ongoing diplomatic efforts concerning the US-Israeli situation with Iran. The market response was volatile, reflecting the uncertainty caused by these developments.

2 Oct 2026 12:04 am