MORGAN STANLEY said a hypothetical diesel export ban by the Trump administration could raise US gasoline prices. Analysts including Martijn Rats warn export curbs would fill domestic storage within weeks and force refiners to cut runs by about 2 mln b/d; even if refiners rework output to favor gasoline, gasoline supply would fall roughly 650k b/d. The firm said the ban is not its base case and cautioned that while the measure remains under debate oil markets should expect further volatility.

2026-09-24

MORGAN STANLEY said a hypothetical diesel export ban by the Trump administration could raise US gasoline prices. Analysts including Martijn Rats warn export curbs would fill domestic storage within weeks and force refiners to cut runs by about 2 mln b/d; even if refiners rework output to favor gasoline, gasoline supply would fall roughly 650k b/d. The firm said the ban is not its base case and cautioned that while the measure remains under debate oil markets should expect further volatility.