Trump Weighs Diesel Export Ban as PCE Data Looms

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4▲1 ▼1Impact / 5
Summary · why it matters

President Donald Trump is considering a range of measures, including a possible diesel export ban, to curb surging domestic fuel prices, the Financial Times reported, with administration officials having discussed restricting international diesel sales and briefing allies including Britain about possible supply disruptions. U.S. diesel prices reached $6.53 a gallon last week, more than 70% above their prewar level, and the debate has pitted Republican lawmakers from farming states against oil companies ahead of the midterm elections. Investors are also awaiting the August personal consumption expenditures price index, with the core measure seen accelerating to 0.3% month-on-month from 0.2% and the overall reading tipped to rise to 0.4% from 0.2%, while year-on-year PCE is projected at 3.3% on a core basis and 3.7% overall. U.S. stock index futures edged higher, with Dow futures up 247 points, or 0.5%, S&P 500 futures up 21 points, or 0.3%, and Nasdaq 100 futures up 52 points, or 0.2%, after New York Fed President John Williams said there was no need for urgency to tighten again. Brent crude futures expiring in November ticked up 0.3% to $102.87 per barrel while U.S. West Texas Intermediate crude fell 0.2% to $89.24 per barrel, as signs of recovering Middle East exports offset supply concerns. China's RatingDog Manufacturing purchasing managers' index rose to 52.1 in September from 51.5 in August, beating expectations of 51.7 and marking the fastest expansion in five months.

Impact on assets 3

Consumer Staples▲ · 1 stocks
Others▲ · 1 stocks
⛏Heating Oil Futures
HEATOIL
▲ PositiveSupplyrelevance

Trump weighing a diesel export ban would curb international distillate sales and tighten global heating-oil/diesel supply, supporting heating oil futures.

Others▼ · 1 stocks
％United States Government Bond 10Y
US-10Y
▼ NegativeMonetaryrelevance

Core PCE seen accelerating to 0.3% m/m and 3.3% y/y keeps inflation firm, pushing Treasury yields up (bond prices down), though Williams' no-urgency-to-tighten remark tempers the move.

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