US Heating Oil Falls on Diesel Export Ban
US heating oil prices fell to around $4.80 per gallon, retreating further from last week’s record high above $5.20, after reports that the Trump administration is preparing a plan to ban diesel exports for 90 days. The proposal faces divisions within the administration and the oil industry as Washington seeks to bring down energy prices. Meanwhile, Ukrainian President Volodymyr Zelenskyy called on President Trump to organize a trilateral meeting with Russian President Vladimir Putin, saying the leaders need to move “as quickly as possible” to end the war. Zelenskyy also said he and Trump discussed an energy ceasefire. Trump said Moscow has “unfortunately lost control” of its diesel industry due to the war and has previously urged Zelenskyy to stop targeting Russian oil refineries with drone strikes. Meanwhile, Saudi Arabia’s partial restoration of its East-West pipeline is helping ease some supply concerns despite uncertainty over Middle East peace prospects.
20, after reports that the Trump administration is preparing a plan to ban diesel exports for 90 days. The proposal faces divisions within the administration and the oil industry as Washington seeks to bring down energy prices. Meanwhile, Ukrainian President Volodymyr Zelenskyy called on President Trump to organize a trilateral meeting with Russian President Vladimir Putin, saying the leaders need to move “as quickly as possible” to end the war. Zelenskyy also said he and Trump discussed an energy ceasefire.
Trump said Moscow has “unfortunately lost control” of its diesel industry due to the war and has previously urged Zelenskyy to stop targeting Russian oil refineries with drone strikes. Meanwhile, Saudi Arabia’s partial restoration of its East-West pipeline is helping ease some supply concerns despite uncertainty over Middle East peace prospects.