Pantheon Macroeconomics says a U.S. diesel export ban would first hit Latin
American and European buyers and would broadly lift global prices. Chief
commodities economist David Oxley said any reduction in U.S. diesel flows would
remove a key supplemental source that has helped ease current diesel market
stress. U.S. diesel export growth this year offset roughly half of supply losses
from Russian refinery disruptions and reduced output tied to the Iran conflict.
Pantheon estimates a full export ban could further cut seaborne diesel supply by
about 30%.
