Commodities
Trump Denies Export Controls as Fuel Prices Soar
The Trump administration has denied plans to restrict U.S. oil exports, but speculation about export controls continues amid high fuel prices and global supply disruptions.
The U.S. oil industry has seen record-high distillate fuels exports in recent months, while gasoline exports have bounced between 750,000 and 1 million barrels per day.
The administration's stance on export restrictions is complex, as the industry has long enjoyed the right to sell refined products abroad and recently gained unfettered access to export crude oil and natural gas.