Washington is increasing pressure on Europe’s diesel reserves, reports Reuters. Citing three sources, the outlet claims the Trump administration has warned France and Germany to dip into their emergency diesel stocks to help cool global fuel prices – or risk seeing the United States ban diesel exports. The move, linked to efforts to reduce pump prices in the United States ahead of mid-November elections, marks a more acute phase in energy tensions between the United States and Europe. An EU official confirmed that the European Commission and several member states, including Germany and France, held a call on Thursday on whether to release diesel reserves.
According to a European source, Washington wants the EU to put on the market up to 120 million barrels of diesel over the next six months. U.S. officials were angered that Berlin and Paris, they said, had not fully fulfilled their previous commitments on destocking. Europe, already more dependent on American fuel after cutting off Russian imports and losing supplies to the Middle East, has barely reacted publicly. If the Trump administration does implement a ban on diesel exports, it could deal a serious blow to the Texas economy, the newspaper reports. Texas Tribune. Texas refineries sell 6.3 million barrels of diesel each day, about a quarter of which goes overseas. If companies are unable to sell their products, they could scale back operations, leading to a decrease in supply and more price increases, insiders say.
Gn usa
