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G7 to release 100 million barrels of oil reserves through IEA
- The co-ordinated release includes frontloaded diesel supplies to stabilise global energy markets
- Lower crude and diesel prices could ease costs for Indian refiners and fuel retailers
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Topic
Diesel▲ +38% net tone today
- G7 plans to release 100 mn barrels of diesel and other reserves through the IEA
- Macron plans a G7 leaders’ call as the US pressures allies to release diesel stocks
- The UK average diesel pump price hit £2 per litre for the first time
Often with, this weekFuel prices34Trade and tariffs26Crude oil24Oil and gas companies16Donald Trump15
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23 Oct
G7 agrees to release 100 million barrels of oil and diesel from emergency reserves
- G7 countries agreed to release 100 million barrels of diesel and crude oil
- The release will come from emergency reserves
- More oil supply could ease fuel costs for Indian refiners and oil marketing companies
Europe agrees to release diesel stockpiles, sending oil prices down more than 4%
- European leaders agreed to release some diesel stockpiles on Friday
- Oil prices fell by more than 4%
- Lower oil prices can ease input costs for Indian fuel retailers, refiners and transport companies
Diesel falls sharply as EU considers releasing 50mn barrels under pressure from Trump
- 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
Trump plays with a critical lifeline that keeps global economy going
- A potential US diesel export ban could remove about 1.2 million barrels a day from global supply
- Tighter fuel markets could raise costs for Indian refiners and transport companies
US wants European allies to do this 'immediately' to lower diesel prices
- The US urged European allies to release strategic diesel reserves immediately
- Global fuel prices are surging amid supply disruptions linked to the Iran war
- Higher global fuel prices can pressure Indian oil marketing companies
Nobody is allowed to cap fuel sales: Petroleum Secretary
- Petroleum Secretary says nobody is allowed to cap fuel sales
- The response follows reports of Jio-bp and Nayara Energy capping diesel sales
- Fuel retailers including Jio-bp and Nayara Energy face pressure to maintain diesel supply