Trump, Bessent Weigh Diesel Export Ban as U.S. Inventories Fall

  • President Trump is considering restricting diesel exports.
  • U.S. diesel inventories fell 11%, while weekly exports rose 31%.
  • Scott Bessent is examining whether a full or partial ban would work.

President Trump said he was considering restricting diesel exports to curb soaring fuel prices, a proposal gaining traction among Republicans, and said he would decide soon. Treasury Secretary Scott Bessent said the U.S. was examining the feasibility of a full or partial ban. Commercial diesel inventories have fallen 11% since the start of the war with Iran, while weekly exports have risen 31%, according to the Energy Information Administration. Separately, gold ETF holdings reached a seven-month high, suggesting bullion prices are becoming less constrained by interest rates.

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