Image: LN24 International
President Donald Trump says European nations are preparing to release a “massive amount” of diesel from their emergency reserves as the G7 moves to inject up to 100 million barrels of crude oil and fuel into global markets.
The coordinated move is aimed at easing pressure on diesel supplies and prices, which have been pushed higher by disruptions linked to conflicts in the Middle East and Ukraine.
The agreement also keeps a U.S. diesel export ban off the table for now, with G7 members pledging to maintain the flow of energy and petroleum products between partner countries.
The emergency stockpile release puts the scale of the global fuel-supply squeeze and the pressure on governments to stabilise energy markets under the spotlight.
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