Worldtheguardian.comG7 to release up to 100m barrels of emergency oil and diesel reserves
G7 leaders agreed to release up to 100 million barrels of emergency oil and diesel reserves after Trump threatened to cut off US diesel exports to Europe.
Leaders agree a coordinated drawdown after surge in prices and Donald Trump’s threat to cut off US supplies
G7 nations agreed to release 50 million barrels each of diesel and crude oil to cool surging global fuel prices.
French President Macron convened the emergency video call and said the front-loaded diesel release would begin within the first 20 days.
Europe avoids a US diesel export ban for now, and Trump confirmed on Truth Social that the process would start immediately.
Global diesel prices have surged, so expect some relief at the bowser in coming weeks if the coordinated release goes ahead as planned.
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