Futures Movers: Crude oil prices climb after Russia bans gas and diesel exports

Oil prices climbed on Friday, trading near the highest level in 10 months seen earlier this week, after news Thursday that Russia has banned the export of diesel and gasoline which has pushed up prices in Europe.

Price action

Market drivers

Global energy prices have been rising since Russia announced on Thursday a temporary ban on exports of gasoline and diesel outside a small circle of closely allied states in order to keep supplies available for processing the annual wheat harvest in particular. Russia is…