Burnham under pressure to lobby Trump on US diesel export ban

Photo: Lio Voo / Pexels Andrew Burnham, a key industry figure, is reportedly urging President Donald Trump to oppose a proposed U.S. diesel export ban, according to a Financial Times report. This development comes as Trump’s administration considers restricting diesel exports due to record-high diesel prices. While Trump has expressed support for the idea, Treasury Secretary Scott Bessent has stated that the administration is still evaluating whether a full or partial ban is feasible. The debate highlights a split within the administration, with some officials warning that a ban could backfire by tightening fuel markets or increasing other prices. The policy is still under review, indicating ongoing internal deliberations rather than a finalized decision. Key Takeaways Pricing suggests participants view recent pressure on Trump to oppose the diesel export ban as indicative of a decreasing likelihood of an announcement. The Financial Times report appears to have contributed to a significant drop in the probability of an announcement, with the October 1 market falling to 5.5% YES. Market pricing implies that the administration’s internal division over the diesel export ban could dela...