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The administration of U.S. President Donald Trump has informed Germany and France of the need to withdraw emergency diesel stockpiles to help reduce global fuel prices, and has threatened to impose an export ban if this is not done. Washington has requested the European Union to release 120 million barrels of diesel over the next six months to increase supply and alleviate pressure on consumers. This as an escalatory step in a broader effort to lower fuel prices ahead of the midterm elections. American pressure reflects dissatisfaction from France and Germany for not signing previous commitments to release emergency oil reserves, while Europe is increasingly relying on American oil following the ban on Russian imports and market tensions in the crude sector. These measures pose risks that could impact fuel markets and the global economy.
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