Trump still thinking 'seriously' about export ban

Spanish Market: Crude oil, Oil products
28/09/26

President Donald Trump said on Sunday that a ban on diesel exports remains a top option the administration is considering to bring down prices of the fuel, despite the potential for the policy to raise gasoline prices.

"We're thinking about it very seriously," Trump said in a televised interview in Illinois on Sunday. "That can often times lead to a little bit of an increase on gasoline for cars, so we're looking at it very seriously. We may do it."

Trump called for a diesel export ban on 22 September, joining a growing group of Republicans who believe cutting off exports of the fuel would quickly lower diesel prices that hit a record high last week of $6.53/USG. US energy secretary Chris Wright subsequently downplayed the idea of an outright ban, saying any government restrictions on diesel flows would likely be voluntary.

Trump said last week he would decide soon whether to implement diesel export restrictions.

A diesel export ban would initially put 25¢/USG of downward pressure on retail diesel prices each week it is in effect, the bank Goldman Sachs said in a research note on 26 September, reducing an incentive for US refiners to maximize production. That downward pressure on diesel prices would intensify once storage space runs out, at which point refiners would likely curtail output of diesel, gasoline and jet fuel, putting 30¢/USG of upward pressure each week on gasoline prices, Goldman said. Total US ultra-low sulphur diesel (ULSD) inventories were 96.4mn bl in the week ended 18 September, down by 14pc from a year earlier.

Louisiana, Alabama and Nebraska last week temporarily waived restrictions on highway use of untaxed diesel fuel in response to high prices. Ohio lawmakers this week are considering waiving the state's 39¢/USG tax on gasoline and 47¢/USG tax on diesel for 90 days.

By Chris Knight

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28/09/26

German oil demand drops before fuel tax cut

Hamburg, 28 September (Argus) — German buyers pulled back from the spot market in the week to 25 September ahead of a tax cut on diesel and E5 gasoline due to take effect on 1 October. The total volume of diesel and E5 gasoline transactions for truck loading reported to Argus dropped by about half compared with the week to 18 September. Many consumers are postponing purchases to benefit from lower tax rates in October, as the expect overall product prices to fall. The federal government will cut the energy tax on road fuels by €14.04c/l on 1 October. Prices for E5 gasoline, diesel and heating oil all declined but stayed elevated. Fuel prices had reached a new yearly high in the week to 18 September. In the following week, diesel in Germany averaged about €190.6/100l, nearly €4/100l below the previous week's record. E5 gasoline showed a similar fall. The lower domestic prices were driven by falling ICE gasoil and crude futures. Additional regional oversupply towards the end of the month further pushed prices down. Heating oil transactions reported to Argus also fell sharply, even though heating oil prices in Germany declined as levels remain high. Some traders said certain end-users mistakenly believed the tax cut would apply to heating oil and delayed purchases. But the temporary energy tax reduction in Germany from 1 October to 31 December applies only to gasoline, diesel and HVO100. By Johannes Guhlke Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Brazilian producers call for bunker biofuel mandate

25/09/26

Brazilian producers call for bunker biofuel mandate

Sao Paulo, 25 September (Argus) — Brazilian bioenergy companies have demanded that hydrocarbons regulator ANP introduce mandatory biodiesel blending in conventional marine fuels from 2027. The ANP is developing new rules to bring the domestic bunker market closer in line with International Maritime Organization (IMO) requirements. Biodiesel producers' association Ubrabio presented the proposal at an ANP public hearing this week. It called for a 15pc biodiesel mandate in marine gasoil (MGO) from July 2027, rising to 20pc in January 2028 and 24pc in July 2028. Brazilian bioenergy producer Binatural estimates that a B15 mandate would create around 230mn liters/yr of biodiesel demand, increasing to about 368mn liters/yr under B24. ANP said it will consider the industry's proposals before issuing the final regulation, expected by the end of this year. ANP's original draft does not include mandatory blending. It would establish national specifications and storage requirements for marine biodiesel, hydrotreated vegetable oil (HVO), ethanol and gas-to-liquids fuels. The proposal would also allow suppliers to sell blends of up to B100 to shipowners without obtaining special authorization. Petrobras and Raízen are currently the only companies authorized to market marine biodiesel blends in Brazil, with blending capped at 24pc. The proposal also regulates ethanol bunkering in Brazil . By Gabriel Tassi Lara Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

US warns vessels over Houthi Red Sea threat

25/09/26

US warns vessels over Houthi Red Sea threat

Singapore, 25 September (Argus) — The US Maritime Administration has urged US-flagged commercial vessels to switch off their Automatic Identification System (AIS) when transiting high-risk waters around the Red Sea and Gulf of Aden, as Houthi attacks on commercial shipping persist. The guidance, effective from 23 September, also advises vessels to vary routes and speeds, limit electronic transmissions and remain as far from Yemen's coastline as safely possible to make them harder to track and target. The guidance follows a resumption of attacks by Iran-backed Houthi militants on commercial shipping. Tankers Daisy , a coastal tanker and Amzan , a very large crude carrier (VLCC) were struck by Houthi missiles off Yanbu, Saudi Arabia, on 5 and 24 August, respectively. Yemen's Iran-backed Houthi militant group announced a ban on Saudi Arabian "maritime navigation" on 20 July, threatening the transit of Saudi-affiliated vessels through the Bab el-Mandeb strait. The group subsequently seized the Red Sea port city of Mocha on 11 September, enhancing the Houthi's ability to disrupt vessel traffic and provide Iran with an additional means of exerting pressure on international shipping. Vessels with links to Israel, the US, the UK or Saudi Arabia are considered to be at greater risk when transiting the southern Red Sea, Bab el-Mandeb and the Gulf of Aden, according to the advisory. The heightened threat also extends to vessels belonging to companies or fleets identified as having previously called at Saudi ports. Potential attacks could involve missiles, aerial or surface drones, small-arms fire, explosive boats, illegal boardings and vessel seizures, the US Maritime Administration cautioned. Attacks could also create navigation hazards for other commercial vessels operating nearby. The US advised its flagged vessels transiting the Red Sea, Bab el-Mandeb, Gulf of Aden, Arabian Sea and Somali Basin to switch off AIS unless masters consider doing so a risk to navigational safety. While ships have previously been attacked with AIS both on and off, disabling it can make vessels more difficult to track and accurately target, it said. Ships should also avoid repeating routes, waypoints and speeds used on previous voyages where possible, while minor changes in course and speed could also help to complicate targeting. Operators were warned that other electronic transmissions, including onboard commercial systems and Wi-Fi, could also reveal vessel information. Ships receiving instructions from the Houthis or entities claiming to represent Yemeni authorities to divert, activate AIS or provide voyage information should disregard them and continue their passage where safe, the advisory said. US-flagged vessels were also advised to coordinate voyage planning with US naval authorities and immediately report attacks, suspicious activity or other security incidents. Separately, vessel traffic through the strait of Hormuz held at 12 crossings on 23 September, unchanged from 22 September , Windward data show. About 10 vessels were inbound and two were outbound. Three inbound vessels used the southern US-assisted route and six took Iran's northern corridor, while both outbound vessels used the southern route. By Sean Lui, Sureka Elangovan and Jared Bateman Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Brazil bunker suppliers ask for ethanol regulation

24/09/26

Brazil bunker suppliers ask for ethanol regulation

Sao Paulo, 24 September (Argus) — Brazilian bunker suppliers are urging Brazil's hydrocarbons regulator ANP to include ethanol in its upcoming national marine biofuels regulation, arguing that the biofuel was only partially addressed in the initial proposal released for public comment. The proposed regulation aims to align Brazil's bunker fuel framework with international standards and would allow suppliers to market biodiesel, hydrotreated vegetable oil (HVO) and gas-to-liquids (GTL) products without requiring specific authorization, provided the fuels meet ANP specifications. Ethanol, however, would remain subject to special authorization requirements, a provision that has drawn criticism from both bunker suppliers and ethanol producers. ANP initially argued that ethanol was not included because the proposal is intended to align domestic regulations with ISO 8217:2024 specifications and standards recognized by the International Maritime Organization (IMO). The IMO has not yet developed specific guidelines for ethanol bunkering operations. During a public hearing on Wednesday, the Brazilian bunker association Abrabunker and ethanol producers' association Unica jointly called on ANP to establish a dedicated ethanol standard that would allow suppliers to market the fuel without obtaining special approval. The groups proposed that the specification of ethanol set in Brazil's existing Resolution 907 — aimed at ethanol for road-fuel use — also be accepted for marine fuel use. The proposal covers both anhydrous and hydrous ethanol grades for bunkering operations. Industry participants argued that including ethanol in the regulation would help stimulate domestic production and logistics infrastructure development ahead of wider global adoption of the fuel in the maritime sector. According to Abrabunker, the measure would position Brazil to capitalize on its large ethanol industry and strengthen its role in the emerging alternative marine fuels market. Brazil ethanol output has been growing rapidly with the expansion of corn-based production. The country is expected to produce 39.8bn liters (686,959 b/d) of ethanol in 2026, up by 6.4pc from a year earlier, according to energy research firm EPE. The firm sees a 20pc growth to 50bn l by 2035 from 2026 levels. Brazil currently lacks a comprehensive regulatory framework defining storage requirements and fuel specifications for biodiesel, HVO and ethanol sold to vessels. Suppliers must obtain special authorization from ANP to conduct alternative bunker fuel operations. Petrobras and Raizen are the only companies currently authorized to market biodiesel bunker blends containing up to 24pc biodiesel. Ethanol authorizations have been granted on a case-by-case basis for testing purposes. Bunker One received approval earlier this year to conduct a 100pc ethanol bunkering trial in Brazil. By Gabriel Tassi Lara and Maria Lígia Barros Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

France to help protect Yanbu: Macron

24/09/26

France to help protect Yanbu: Macron

New York, 24 September (Argus) — French president Emmanuel Macron on Thursday said his country has finalized discussions with Saudi Arabia to send military assets to help protect the Red Sea port of Yanbu. "We will send military resources, soldiers, radars, defense systems, to protect this site," Macron said in an interview with French news channel TF1. France does not aim "to engage in conflict, but to protect this site." France and Saudi Arabia finalized discussions on the matter on Thursday, after Yemen's Houthi militants inflicted significant damage on the port, Macron said. Macron underscored the strategic importance of Yanbu, noting that "a few weeks ago more than 5mn b/d were coming out of it. That is not negligible." The Houthis claimed to have conducted fresh strikes on Thursday, targeting a Saudi Aramco facility in Yanbu and the Saudi capital of Riyadh. There has been no independent confirmation of the purported attacks. France's offer of military aid comes a week after the UK agreed to limited refueling support for Saudi Arabia. The US has yet to extend any support for Saudi Arabia in the wake of the attacks. President Donald Trump described the attack as a matter between the Saudis and the Houthis. "There's just one country that they're not too happy with," Trump said on 12 September, in the wake of the attack on the East-West Pipeline. "The Houthis called us, and they don't want to fight with us," he said. Macron continued to emphasize the need for dialogue with the Iranians and Omanis to reopen the strait of Hormuz through diplomatic means. By Charlotte Bawol Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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