Brent oil drop – ICYMI – Russian media report that Russia may ease diesel exports ban soon

<p>Crude oil prices dropped sharply during Wednesday trade. A report in Kommersant, a nationally distributed daily newspaper published in Russia mostly focusing on politics and business, said that the Russian government is ready to ease a ban on diesel exports in coming days.</p><p>Kommersant cited unidentified sources for the information. Deputy Prime Minister Alexander Novak said the restrictions were working. </p><p>Russia had slapped on the ban, it said at the time, to help ease high domestic prices and shortages of gasoline and diesel in recent months. High export prices made it more advantageous for refiners to sell their products abroad.</p><p>Brent update:</p>

This article was written by Eamonn Sheridan at www.forexlive.com.