US export ban would send European diesel prices to unprecedented levels

US export ban would send European diesel prices to unprecedented levels CNBC noted that most oil traders in Europe doubt Washington will take this stepNEW YORK, September 29. /TASS/. A potential US ban on diesel exports could make prices in Europe surge, CNBC reported. In particular, Benedict George, head of European pricing at UK-based analytics firm Argus Media, believes US restrictions on diesel exports would send prices for the fuel in Europe soaring to a new, unprecedented, level as the United States has supplied around half of Europe’s diesel imports in recent months. According to him, there are no measures in place yet, and it remains unclear whether they will be introduced at all, and what form they might take. At the same time, CNBC noted that most oil traders in Europe doubt Washington will take such a step, as a ban would pose a serious challenge for US oil companies. US President Donald Trump said last week that he and his administration were seriously considering a ban on diesel exports and suggested that such a decision could be made. 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