Oil prices climb as markets weigh the impact of a proposed US diesel export ban, with analysts cautioning that restricted supply could trigger a boomerang effect on domestic gasoline costs.
WTI crude futures hover near $90 as Trump floats a diesel export ban, which analysts warn could tighten global supply and support prices.
Brent crude futures hover near $100 per barrel amid potential US diesel export restrictions that could tighten global supply.
Brent crude futures hover near $100 per barrel while WTI trades around $90 following President Trump's proposal to restrict diesel exports. Analysts warn that such a policy could tighten global supply, potentially backfiring by reducing total domestic refining capacity and driving gasoline prices higher across the East and West Coasts.
Experts argue that US refineries cannot process all trapped domestic fuel, leading to lower overall production and supply shortages in regions that rely on imports, such as the East and West Coasts.