Europe To Release Diesel Reserves: Trump says partners will tap stocks; US mulls export ban

Trump had earlier threatened to ban diesel exports to Europe US President Donald Trump said Friday that European countries have agreed to release diesel reserves immediately, as Washington seeks to ease a global fuel squeeze that has pushed diesel prices to record highs.Trump announced the move on social media but did not identify the countries involved or say how much fuel they would release. “Europe has just agreed to release a massive amount of their heavily stocked Diesel Oil,” Trump said. “The process will begin immediately.”The announcement came hours after reports that the US had been pressing European countries to release diesel reserves as Washington considers measures to keep more fuel within the US, including a possible restriction on diesel exports.Treasury Secretary Scott Bessent had urged European partners to make additional supplies available immediately, warning that US farmers, truckers and businesses should not be left bearing the cost of higher fuel prices.Trump has said his administration is considering a diesel export ban “very seriously” as US fuel prices surge. The US is a major diesel exporter, shipping about 1.2 million to 1.5 million barrels per day to int...