White House Denies Report of Potential US Diesel Export Ban
A White House official has refuted a report that the administration is preparing a 90-day ban on diesel exports, a measure supposedly aimed at curbing record-high fuel prices.
Latest by Elena Volkova
US Diesel Futures Drop on Export Ban Report, White House Denies Plan
US ultra-low-sulfur diesel futures fell 4% Wednesday following a report that the White House was planning a 90-day export ban, a claim administration officials have denied. The market volatility comes as the administration weighs options to combat near-record fuel prices.
Trump, Venezuelan Leader Discussed Sovereign Debt Restructuring, Says Rubio
U.S. President Donald Trump and Venezuelan interim President Delcy Rodriguez held a brief meeting to discuss the nation's massive defaulted debt, according to U.S. Senator Marco Rubio. The talks come as Venezuela's total liabilities could exceed $150 billion.
US Threatens to Withdraw from IEA Over Climate Policy Disagreements
U.S. Energy Secretary Chris Wright stated the United States will either reform the International Energy Agency to focus on its core energy security mission or leave the organization, citing disagreements over its climate change focus.
US Crude Stockpiles Unexpectedly Rise by 3 Million Barrels, EIA Reports
U.S. crude oil inventories surprisingly increased by 3.0 million barrels last week, contrary to analyst forecasts for a decline, while stockpiles of gasoline and distillates fell, according to the Energy Information Administration.
Iranian President Vows No Surrender to US, Calls for Diplomacy at UN
In an address to the United Nations General Assembly, Iranian President Masoud Pezeshkian stated Tehran would not surrender in its conflict with the U.S. but remains open to diplomacy, highlighting tensions in the strategic Strait of Hormuz.
Iran Threatens to Shut Down Neighboring Airports Amid US Sanctions
A top Iranian official has warned that Tehran will retaliate against neighboring countries' airports if they comply with new U.S. sanctions aimed at grounding all Iranian airlines. The threat escalates regional tensions and poses risks to aviation and trade.
US Energy Secretary Warns Against Diesel Export Ban, Citing Risk to Gas Prices
U.S. Energy Secretary Chris Wright stated that a ban on diesel exports would be ineffective and could unintentionally raise gasoline and jet fuel prices by forcing domestic refiners to cut production.
Precious Metals Pullback Reveals Divergent Outlooks for Gold, Silver, Platinum, and Palladium
A recent downturn in precious metals markets has created varied opportunities, with analysts viewing gold as a core portfolio hedge while palladium faces significant structural headwinds amid poor performance.