White House weighs diesel export ban as prices climb, WSJ reports
The move follows a White House denial just a day earlier that any such restriction was under consideration, according to the Wall Street Journal.
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UpdateWednesday, September 23, 2026 at 7:20 AM ET
Trump's oil allies view a diesel export ban as a potential nightmare scenario, the Wall Street Journal reported. Trump said the United States is helping restore oil flow through the Strait of Hormuz, though Iran has kept its conditions for reopening the strait in place. Brent crude settled near $99 a barrel on Tuesday after Trump described talks with Iran as "productive."
The White House is considering a ban on diesel exports as prices continue to rise, the Wall Street Journal reported. The reported deliberations come a day after Treasury Secretary Scott Bessent said he was examining whether the US could restrict diesel exports, itself a reversal from the White House's own statement that no such move was under consideration.
Diesel prices have climbed for much of the year after Iran's closure of the Strait of Hormuz disrupted global supply and rattled markets, according to the Christian Science Monitor. US refineries are running at nearly 97% of capacity, the Monitor reported, citing industry experts, as supply chains remain strained. Yahoo Finance reported that the price surge reflects a broader shortage of refined petroleum products, not just crude oil, and cited the Energy Information Administration's forecast that US distillate inventories will fall below 100 million barrels this month and stay below their five-year average through much of 2027.
A ban would sit awkwardly alongside the administration's parallel effort to strengthen Gulf energy infrastructure and rebuild partnerships in the region, creating a tension that undercuts the ban's credibility as a serious tool for controlling prices. That mixed signal leaves traders with little conviction about whether such a ban would actually be implemented, or how long it might last.