DIESEL: US Diesel Ban Headline Drives Diesel Cracks Down

US crude diesel cracks have lost ground after Politico issued a story suggesting that the WH is preparing a 90 day diesel ban. * WTI NOV 26 up 1.1% at 91.49$/bbl * US gasoline crack up 2$/bbl at 47.41$/bbl * US ULSD crack down 12.7$/bbl at 97.85$/bbl * EU Gasoil-Brent up 3.5$/bbl at 92.84$/bbl * "The Trump administration is preparing a plan to ban exports of diesel for 90 days, despite splits inside the administration and with the oil industry, in a bid to bring down energy prices weighing on Republicans leading into the midterms, five people familiar with the discussions said Wednesday." Politico said. * The announcement has boosted gasoline cracks, with analysts believing that a ban may soften diesel prices, but in turn cut refinery output and hit gasoline stocks. * The announcement has also driven up European gasoil cracks.