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Oct 1, 2:21 AM
President Donald Trump said Wednesday he is still considering a ban on U.S. diesel exports to ease elevated energy prices, but acknowledged the measure could have a “negative impact” on gasoline prices. His comments appeared less supportive than three days earlier, when he said he was “very seriously” considering the move.
Trump said an export ban could lower diesel prices but potentially raise gasoline and other costs. He also pointed to a recent recovery in crude shipments through the Strait of Hormuz, saying oil prices could begin to decline as flows return to prewar levels.
Energy Secretary Chris Wright said diesel prices have fallen over the past week and could decline further, although supplies remain tight because of disruptions linked to conflicts in Russia and the Middle East, as well as reduced Chinese exports. He said U.S. refiners are operating at record levels and additional European supplies could help ease the market.
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