Oil prices rise as Chinese refiners reportedly ban October fuel exports; Brent crude back above $100

Oil prices rose on Thursday, reversing earlier losses, following a report that Chinese refiners have suspended October fuel exports, further squeezing war-constrained energy markets. International benchmark Brent crude with December expiry was last seen trading 2.4% higher at $100.36 per barrel, having earlier traded 1% lower, while U.S. West Texas Intermediate futures with November expiry rose 2.5% to $92.70. Reuters reported that China's state oil major PetroChina canceled a handful of gasoline and jet fuel shipments that were planned for October, citing multiple unnamed sources, as Beijing looks to safeguard domestic supplies. CNBC could not independently verify the report.