Oil prices climb as supply strains shift the balance

Pharos Energy Plc

Brent and WTI prices are heading for roughly 4% gains this week, the strongest such advance in three months.

The catalyst lies in Russia’s announcement of a partial ban on diesel exports through year-end, layered on top of its existing gasoline export curbs. Meanwhile, Ukrainian strikes on Russian refining infrastructure have chipped away at domestic output, leaving pockets of fuel shortages across key regions.

The upshot is that oil markets are entering a phase where direction may be driven less by cyclical demand shifts and more by the slippage of supply under geopolitical stress.

Pharos Energy Plc (LON:PHAR) is an independent energy company with a focus on delivering long-term sustainable value for all stakeholders through regular cash returns and organic growth, underpinned by a robust cash flow and resilient balance sheet.

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