Global oil prices rose on Tuesday as market watchers focused on potential supply disruptions from Russia. West Texas Intermediate (WTI) climbed to $56.02 per barrel, Brent crude rose to $59.65, and Murban crude reached $60.78. Natural gas also strengthened, trading at $3.967.

Reports indicate that Russia is considering extending its ban on gasoline exports beyond the current December 31, 2025 deadline, possibly until the end of February 2026. The ban currently applies to all market participants, including producers and traders, though shipments under bilateral government agreements are exempt.

Russia also maintains restrictions on diesel exports for non-producing companies, which could be lifted starting January 2026, according to industry sources. The gasoline export ban was last extended in September after fuel shortages emerged, triggered by drone attacks on Russian refineries and energy infrastructure. Some of the strikes reportedly reduced refinery processing rates by as much as 20 percent on certain days, affecting fuel availability across the country.

In November, shipments of refined petroleum products fell 0.8 percent compared to October. Declines from Black Sea ports were offset by increased exports from Baltic Sea terminals, but drone attacks on key ports like Tuapse and Novorossiysk continue to constrain fuel shipments.