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Why Are Diesel Prices Soaring and What Would a U.S. Export Ban Do?
The brief
- Middle East and Ukraine wars have blocked shipments from regions supplying almost a third of global diesel exports
- Higher diesel costs can pressure Indian oil-marketing companies and fuel-sensitive sectors
- Ukraine deploys FP-7 tactical ballistic missile in combat for first time, Zelenskiy says
- Russia launches massive strikes on Ukraine’s energy grid, forcing power cuts ahead of winter
- Russia hits power plants, kills four, leaves Kyiv under smoke
- Russia targets data centers in Kyiv as NATO condemns Moscow’s ‘irresponsible nuclear rhetoric’
- South Korea made no military aid pledge to Ukraine over transfer of North Koreans, lawmaker says
US diesel export-ban threat and global supply crunch
Trump has weighed restricting US diesel exports amid high fuel costs and tight global supply, while business leaders warned against a ban. Russia extended its diesel export restrictions through October, and the US administration warned it could act if European countries do not release reserves.
Friday, 2 October
- Why Are Diesel Prices Soaring and What Would a U.S. Export Ban Do?