Europe weighs new diesel stocks release after US pressure: Reuters
- European Union governments discussed a French proposal on Friday to release 50 million barrels of diesel, with International Energy Agency members also considering releasing 50 million barrels of crude oil.
- The proposal responds to pressure on European nations to unleash more supplies in an attempt to reduce surging fuel prices and ease acute market tightness amid global energy concerns.
- Ole Hansen, head of commodity strategy at Saxo Bank, said refined product supply remains the main stress, constrained by reduced refinery capacity across Russia and the Middle East.
- Both benchmark contracts posted weekly declines, with Brent down about 4.7 per cent and West Texas Intermediate lower by around 3.1 per cent; European ULSD futures fell over 5 per cent.
- The bank raised its fourth-quarter Brent forecast by $20 a barrel to $115 and lifted its 2026 forecast to $100 a barrel, while physical market fundamentals remain strong.
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152 Articles
About one-sixth of the strategic oil reserves of the member states of the International Energy Agency have been spent since March. Donald Trump's government has received satisfaction on Friday, calling for several days for European states to release more diesel oil. Explanation of these stocks set up in anticipation of the crises.
Aftenposten
smp.noEU countries have agreed to release large quantities of diesel from European strategic reserves, according to US President Donald Trump. The G7 countries say they will release a significant amount of diesel.
After massive pressure from Trump, the G7 countries are now opening their strategic reserves of diesel and crude oil. The big question is whether this will make the price of a liter of diesel fall or not?
Oil prices fell by about $2 today Friday, after EU countries agreed to a proposal to withdraw diesel reserves with a view to lowering prices and reducing the need to import fuel from the United States.
In the opinion of experts, the recent agreement to draw from European diesel stocks would not affect energy prices within the United States, and would deepen the dispute between Washington and its allies who rely on the restriction of powers to restore through Congress.
Europe diesel release won’t have much impact on US prices, experts say: ‘At most a few pennies’
Europe on Friday caved to President Trump’s demand that it release barrels of diesel oil from reserves – but experts are warning it could have little to no effect on US prices at the pump.
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