U.S. Presses Europe to Release Diesel Reserves

The Trump administration is pressing France, Germany and other European countries to release emergency diesel reserves amid tight global supplies and high prices, warning that a U.S. diesel export ban remains under consideration. Reports differ on the scale and timing of Washington’s request, citing 100 million barrels within 20 days or 120 million over six months; no release has been agreed, and European governments are seeking assurances against a unilateral U.S. export ban before drawing down stocks. EU officials say any coordinated release would be handled through the International Energy Agency. The supply squeeze is linked to the Iran conflict and lost exports from the Middle East, Russia and China, while diesel shortages could affect freight, farming and industry. U.S. Energy Secretary Chris Wright has cited lost exports, and President Donald Trump has warned that an export ban could also raise gasoline prices as he faces pressure to lower fuel costs ahead of the midterm elections. Industry representatives and energy economists have warned of broader economic risks.