US tells France and Germany to release diesel stocks or face US export ban, sources say
USO•USO•USO•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 over the next six months.
The Trump administration has told Germany and France to draw down 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.
A source based in a European capital said the US asked the EU to release 120 million barrels of diesel over the next six months. One US official said it was in Europe's best interest to work with the United States to boost refined-product supply and lower consumer costs. Europe has become increasingly dependent on US fuel after banning Russian imports and disruptions to Middle Eastern supplies.
