US diesel futures drop 4% on export ban report, denied by White House

reuters.com [$]

US ultra-low-sulfur diesel futures fell 4% on Wednesday after a Politico report claimed the White House is preparing a 90-day diesel export ban, a plan the Trump Administration denied. Average US diesel prices are near record highs at $6.52 a gallon, straining farming and transportation sectors. Wars in Iran and Ukraine have cut exports from major producers like Russia, Saudi Arabia, and the UAE. Trump backed the ban on Tuesday amid tight election races, but Energy Secretary Chris Wright said it would not work and could raise gasoline and jet fuel prices. He favored voluntary cooperation with refiners instead.


With a significance score of 3.7, this news ranks in the top 8.7% of today's 33456 analyzed articles.

Get summaries of news with significance over 5.5 (usually ~10 stories per week). Read by 10,000+ subscribers: