US considers diesel export ban to lower domestic fuel costs
The US government is thinking about banning diesel exports to help bring down rising fuel costs at home.
Treasury Secretary Scott Bessent says both full and partial bans are on the table, and interestingly, some Republicans are backing the move.
This comes as US diesel supplies have dropped 11% since tensions with Iran flared up, while weekly diesel exports have jumped by 31%.
Oil firms voice diesel export concerns
Oil companies aren't thrilled about the idea; they're worried it could hurt business with overseas buyers and even push up prices for gasoline and jet fuel in the US.
Some top officials in the Trump administration are also skeptical.
Meanwhile, over in Saudi Arabia, efforts are underway to restart a major pipeline damaged by drone attacks, a reminder of how global events keep shaking up energy markets.