Trump Rules Out US Diesel Export Ban

US President Donald Trump announced on Friday that his administration will not impose a ban on American diesel exports. The decision follows a coordinated move by European countries to release additional diesel supplies into the global market, aimed at easing energy prices.

Speaking at the White House before departing aboard Marine One, Trump said he had personally urged European nations to contribute more diesel. He praised their response, noting that Europe’s high consumption and stockpiles allowed them to make a “major world contribution.”

Trump linked the expected increase in energy supplies to ongoing tensions involving Iran, predicting that oil prices would fall once the conflict was resolved. He emphasized that the US maintains strong ties with Europe and welcomed their cooperation in stabilizing markets.

The announcement coincided with a Group of Seven agreement to release 100 million barrels of oil and fuel products over four months through the International Energy Agency, including a significant diesel release in the first 20 days. The IEA noted that while crude exports from the Middle East have recovered, refined product flows remain tight, keeping pressure on diesel supplies.