President Trump signaled he is cooling support for a ban on U.S. diesel exports
after Energy Secretary Chris Wright and Interior Secretary Doug Burgum warned a
full ban could have unintended price effects. A senior White House official
indicated Europe may soon add diesel supply to the market. The White House is
weighing measures short of an outright export ban to lower diesel costs,
including encouraging European countries that rely heavily on U.S. diesel to
release inventories. Trump said officials warned a ban might help diesel but
push up other commodity prices and that oil prices "will start to fall," with
gasoline rising slightly and diesel declining slightly.
