US bans diesel exports 90 days amid Iran tensions, Strait of Hormuz disruptions

INTELLIGENCE SUMMARY

US is preparing to ban diesel exports for 90 days, the first such ban since 2015, as diesel prices hit a record $6.52 per gallon, according to Politico. The plan would bring diesel shipments meant for other countries back to the US to increase domestic supply and lower prices ahead of the november elections. US-Iran war and disruptions around the Strait of Hormuz have also pushed up pressure on global fuel supplies and prices.