Trump Signs Executive Order to Allow Wider Use of Red Diesel Amid Rising Fuel Prices
President Donald Trump signed an executive order allowing the use of 'red diesel'—typically reserved for off-road vehicles—on U.S. highways in a move aimed at reducing fuel costs amid rising prices and political pressure ahead of midterm elections. The decision comes as Trump continues to blame Ukraine's attacks on Russian refineries for contributing to higher energy costs, despite ongoing supply concerns elsewhere such as the Strait of Hormuz. In Europe, bond market volatility is increasing due to fears of contagion, with warnings from France’s central bank and calls for a pause in the ECB’s quantitative tightening. Meanwhile, U.S. Treasury yields remain at multi-decade highs, while stocks continue their upward trend, led by gains in companies like Nvidia, Tesla, and SpaceX.
