Trump rules out diesel export ban hours after announcing Europe diesel release
The decision comes after Trump said earlier Friday that the US would release diesel supplies to Europe, as Macron lines up a G7 call on fuel prices.
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Trump said the administration will not pursue a ban on diesel exports. The statement came the same day he announced a US diesel release for Europe, made earlier Friday morning.
The French president is lining up a call with G7 leaders on fuel prices and refined product supply, after separate talks with Trump and Carney.
The diesel question comes against a tense backdrop in the Gulf. The US reinforced forces near the Strait of Hormuz after Trump rejected an Iran ceasefire offer, following a tanker strike in the strait that Iran blames on UAE-linked vessels. Trump has also told aides he expects to resume bombing Iran by the end of November, according to the Wall Street Journal. Separately, Trump told Israel's N12 News he is looking into a possible Iran link to the flydubai pilot incident.
Keeping US diesel exports open removes a potential constraint on supply just as refined product flows become a coordination point for Macron's planned G7 call. A ban would have pulled barrels away from the diesel Trump has pledged to Europe. With the Strait of Hormuz buildup still raising the odds of a supply disruption, the decision matters less for pump prices at home than for how much flexibility US refiners keep if flows out of the Gulf tighten.