U.S. reportedly threatens EU diesel export ban unless reserve fuel released

The U.S. is reportedly threatening to ban exports of diesel fuel to parts of Europe, unless countries like Germany and France release more of their diesel reserves in an effort to tamp down spiking prices ahead of the midterm elections, according to reports from Reuters and Politico. This also comes after U.S. President Donald Trump said last week that his administration was considering a temporary export ban on all U.S. diesel fuel. The idea faced large pushback from industry representatives and energy economists as posing long-term financial risks to the economy, even if they were to provide some short-term price relief.The European Commission, Germany, France, Italy, Ireland and Britain were holding a call on Thursday to discuss the possible need to release diesel stocks, an EU official told Reuters.The U.S. administration has been particularly frustrated with France and Germany, which U.S. officials believe have not fully followed through on earlier commitments to release emergency oil and petroleum stocks, Reuters has reported previously. Story continues below advertisement “It is in Europe’s best interest to work with the United States as we pursue multiple pathways to boost ...