Europe agrees to release diesel stocks,Trump says

The process will begin immediately," Trump wrote in a post on Truth Social.Trump's statement followed talks on Friday among EU governments, who discussed a proposal by France for European countries to release 50 million barrels of diesel, and for International Energy Agency members to release 50 million ​barrels of crude oil, three sources familiar with the discussions told Reuters.Under the proposal discussed by European governments on Friday morning, Europe would….

Benchmark European diesel futures fell by over $100 a metric ton, LSEG data showed.The discussions underscore growing pressure on Europe as Trump considers a potential ban on US diesel exports to help lower domestic fuel prices ahead of November 3 midterm elections.In weighing its response, the EU needs to balance the need to ease soaring fuel costs against preserving emergency reserves to safeguard against uncertain supply from ​Gulf producers due….

France currently holds the presidency of the G7.Reuters reported on ‌Thursday that ⁠the Trump administration had told Germany and France to draw down emergency diesel inventories or face a potential US diesel export ban, according to three people close to the discussions.The US had demanded large European countries including France and Germany release 100 million barrels of diesel within a 20-day window, two of the sources told Reuters on Friday.Global….

Chinese refiners have also suspended October fuel exports to bolster domestic stocks, sources said.The ​proposed 50-million-barrel release equates to approximately 17% ​of the EU's total emergency stocks of ⁠diesel and gasoil, Eurostat data current as of May 2025 showed.It reflects around 3% of the bloc's annual consumption of the fuel, Eurostat data show.Europe used to mainly rely on Russian and Middle Eastern diesel imports but has increasingly relied on imports….

G7 to release 100m barrels of diesel and crude over four months, while urging others to avoid energy export curbs.