US tells France and Germany to release diesel stocks or face export ban, sources say
USO•The Trump administration has told France and Germany to draw down emergency diesel inventories or face a potential US diesel export ban. One source said the US asked the EU to release 120 million barrels of diesel in the next six months.
1. US pressure on Europe
The Trump administration has told Germany and France to release emergency diesel inventories to help ease global fuel prices or face a potential US diesel export ban, three people close to the discussions said. The administration is considering a ban to bring down US fuel prices ahead of November's midterm elections.
2. Requested diesel release
One source said the US asked the EU to release 120 million barrels of diesel over the next six months. US Energy Secretary Chris Wright said the administration expected announcements soon from Europe about new diesel supplies, citing interruptions to diesel exports from the Middle East and China.
3. European response
An official at the Elysee Palace said French President Emmanuel Macron and Trump did not discuss the issue at their meeting last week. The official said Macron would convene a video conference of G7 leaders on fuel prices and refined-product availability, including coordination of reserve releases with the International Energy Agency.
