A US cutoff could hit Europe hard as Russian and Middle Eastern supplies remain disrupted
The White House is still “very seriously” considering a diesel export ban, US President Donald Trump has said, as fuel prices soar ahead of the November midterm elections.
Shipments being cut from the world’s largest exporter could deepen a global shortage and leave import-dependent Europe scrambling for supplies.
Diesel prices have surged amid a global supply crunch fueled by the US-Israeli war on Iran, which has severely disrupted shipping through the Strait of Hormuz. Russia, one of the world’s largest diesel exporters, has also restricted fuel…
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