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Diesel falls sharply as EU considers releasing 50mn barrels under pressure from Trump
The brief
- Diesel prices fell sharply as the EU considers releasing 50mn barrels from reserves
- Trump threatened to ban US fuel exports unless Europe unlocks reserves
- Lower diesel prices could ease fuel costs for Indian refiners and transport companies
- Europe diesel prices drop as bloc weighs fuel reserve release - report
- Oil prices extend losses after reports of potential European diesel, crude stock release
- Europe discussing plan for diesel stock releases after US pressure, source says
- Trump’s diesel threats could go very wrong — just look at the soyabean
- Oil Prices Near $103: Brent Crude Extends Gains As US-Iran Tensions Escalate
US diesel export-ban threat and global supply crunch
Wars and refinery attacks have disrupted diesel supplies, with affected regions accounting for almost a third of global diesel exports; US diesel averaged $6.51 a gallon, nearly $3 above a year earlier. Trump has weighed restricting exports, while US exports recently reached nearly 2 million barrels a day and analysts warn a ban could lift global diesel and US gasoline prices.
Friday, 2 October
- Diesel falls sharply as EU considers releasing 50mn barrels under pressure from Trump