Europe Agrees to Release Up to 100 Million Barrels of Diesel After US Request
On 1 October European leaders agreed to release up to 100 million barrels of diesel over the next four months after a request from the United States, aiming to ease soaring fuel prices. Earlier in October, U. S. Energy Secretary Chris Wright warned that a diesel export ban could lift gasoline and jet-fuel prices, while President Trump said a ban was under serious consideration and the White House explored voluntary limits, tax suspensions and state actions.
Industry groups and analysts warned the same measure would only temporarily lower regional diesel costs before raising nationwide gasoline and diesel prices. EU officials said the proposed ban could disrupt European markets and convened high-level talks with the Trump administration. France, Germany, Britain, Italy, Ireland and the European Commission later coordinated a unified response, seeking to keep any drawdown of reserves at the International Energy Agency level and to reduce tensions.
