US Diesel Export Ban Talk Widens WTI Discount
Talk of a US diesel export ban has widened the discount for US crude futures to the Brent benchmark. Markets expect domestic refiners to process less crude if diesel output becomes trapped.
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West Texas Oil futures traded as much as $12.02 a barrel under Brent Crude Oil benchmarks on Thursday afternoon, reaching their largest discount since May. The widening spread reflects market fears that a potential domestic export ban could strand diesel supplies inside the United States. Analysts warn that American refiners could be forced to slash crude processing runs by up to 12% if local inventories fill to maximum capacity within a month.
