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Oil Surges Past $102 as China Halts Fuel Exports, US Deploys Troops to Middle East
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CNBC TV18•02-10-2026, 07:47
Oil Surges Past $102 as China Halts Fuel Exports, US Deploys Troops to Middle East
- •Oil prices climbed above $102 per barrel after China restricted fuel exports and the US announced troop deployments to the Middle East.
- •Brent crude rose to $102.60 per barrel, while West Texas Intermediate reached $93.14.
- •The Wall Street Journal reported the US is sending a third aircraft carrier and up to 10,000 more troops to the Middle East.
- •China imposed a liquid fuel export ban, restricting shipments to regions other than Hong Kong and Macau during a weeklong holiday.
- •The Trump administration urged Germany and France to release emergency diesel inventories to alleviate soaring global fuel prices.
Key Questions Answered
Oil prices increased slightly after China halted fuel exports and reports emerged that the US is sending additional troops and aircraft carriers to the Middle East.
The United States is sending a third aircraft carrier and up to 10,000 additional troops to the Middle East as President Donald Trump considers resuming strikes on Iran.
The Trump administration has told Germany and France to draw down emergency diesel inventories, asking the EU to release 120 million barrels of diesel over the next six months to ease soaring global prices.
