Global fuel stocks are tighter than they have probably ever been. China just imposed a ban on all fuel exports for the month. Russia has had a diesel export ban in place for months. The United States threatened Europe with a diesel export ban unless European countries released some fuel from storage. The current crisis is increasingly about fuels, and everyone is prioritizing their own needs. The topic of resource nationalism is a hot one in energy. Governments of resource-rich countries are being more active in seeking to clinch the best deal…

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