US tells France and Germany to release diesel stocks or face US export ban: Report
The European Commission is weighing reserve releases as the United States says Europe still has more fuel to put on the market.
- On Thursday, the United States urged France and Germany to release diesel stocks, threatening a 90-day export ban to stabilize markets amid surging fuel prices and Middle East disruptions.
- US Energy Secretary Chris Wright rebuked European nations on September 30, stating several countries released only a "fraction" of pledged crude oil and petroleum products. The administration expressed frustration over the pace of cooperation.
- While the IEA coordinated a 400 million barrel release in March, analysts note much of the outstanding supply remains in Europe. U.S. diesel inventories fell 27% between February and July, far outpacing declines in Europe's largest economies.
- European leaders held emergency talks on Thursday to coordinate a response, though Energy Minister Darragh O'Brien called a potential U.S. export ban "unlikely" because it would damage economies on both sides of the Atlantic.
- The International Energy Agency meets Friday, but Executive Director Fatih Birol recently signaled another coordinated release is not currently a priority as Europe faces persistent inflation risks from elevated refining margins.
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US President Trump is pursuing the calculation of lowering the high prices of fuels before the interim elections. He apparently calls for the release of 120 million diesel barrels. The EU Commission is alarmed.
US President Donald Trump is facing the mid-term elections in November. The high diesel prices in Iran as a result of the war he started do not help his polls. Now Europe should respond.
Will Trump’s Diesel Threat Force Europe to Release Its Emergency Fuel Reserves?
The Trump administration has warned France and Germany to release emergency diesel reserves to help lower global fuel prices or risk facing a potential US ban on diesel exports, according to people familiar with the discussions. The warning represents a sharp escalation in Washington’s pressure on European allies as President Donald Trump looks for ways […]
America called on France and Germany to withdraw from emergency diesel stocks, wavering a ban on their exports, and asked the European Union to subtract 120 million barrels within six months to reduce fuel prices.
Europe's dependence on diesel imported from the United States has increased recently.
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