Trump says US may ask Europe to release diesel reserves
Skyrocketing diesel prices have pushed Washington to weigh an export ban, raising alarm across European economies.
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Skyrocketing diesel prices have pushed Washington to weigh an export ban, raising alarm across European economies.
The US on Thursday told its European allies to help lower global diesel prices by releasing strategic reserves โimmediately,โ with EU member states due to discuss the crisis on Friday. Reports said the Trump administration wants France and Germany in particular to tap their stockpiles of diesel to try to curb prices sent soaring by the US war on Iran. โOur European partners should accelerate delivery on their existing commitments and make additional supplies immediately available to address...
The United States on Thursday urged European allies to release strategic diesel reserves immediately to curb prices driven higher by the US war on Iran. EU states will discuss a coordinated response on Friday, as Washington increases pressure following President Donald Trump's suggestion that he could ban US diesel exports.
US fuel exports to Cuba hit a record 3.22 million barrels in July 2026, four times June and mostly diesel, as US goods sales to Cuba hit US$148.9 million. The post US Fuel Exports to Cuba Hit a Record 3.2 Million Barrels in July 2026 appeared first on The Rio Times.
Francisco Blanch, commodities and derivatives research head at BofA Securities, explains what a US diesel export ban could mean to domestic prices and the global market. Blanch says there are three considerations the Trump administration needs to weigh before enacting a ban. He speaks on โBloomberg Surveillance.โ (Source: Bloomberg)
Energy experts warn US diesel export ban could increase fuel costs domestically and internationally.
Withholding shipments could result in global economic damage โ and potentially even higher prices in America.