Trump recently said he was "very seriously" considering a diesel export ban, despite warnings from the U.S. oil industry that doing so would raise prices.
Iranian and U.S. officials reportedly met separately with mediators Monday to push for a ceasefire, as Middle Eastern crude exports rebounded to war-time high.
Iran's foreign minister says talks are the only way to break the deadlock, while its navy says it's analyzing data from a captured U.S. underwater drone.