Oil prices were lower today after a choppy trading session. Prices were higher earlier in the session on a Russian fuel export ban. Russia temporarily banned exports of gasoline and diesel to all countries outside a circle of four ex-Soviet states with immediate effect to “stabilize the domestic fuel market”. This pushed heating oil futures up by almost 5% on the day. “As diesel and gasoil likely advance to new highs, they will be positioned to provide some upward pull on the crude markets,” said Jim Ritterbusch, president of Ritterbusch and Associates in Galena, Illinois. WTI traded down $.03 to close at $89.63. Brent traded down $.23 to close at $93.30.

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