Trump says Europe has agreed to release "massive amount" of diesel oil from stockpiles

Live updates

1. 59m ago

   G7 Agrees to Release 100 Million Barrels of Fuel as Diesel Prices Soar

   Group of Seven nations have agreed to release 100 million barrels of oil and diesel from strategic reserves through the International Energy Agency to combat soaring fuel prices. Donald Trump stated that Europe has agreed to release a massive amount of diesel oil from stockpiles following pressure from the White House. The announcement caused oil prices to lower. Meanwhile, the UK government engaged in talks with the United States regarding a threat to stop exports, though Trump later admitted that the administration was never going to ban exports of diesel fuel.

   Why it matters

   The coordinated fuel release comes amid severe global price spikes and intense transatlantic tensions, with European officials previously reacting with sharp criticism to White House demands. The diplomatic friction involved threats of export bans before administration officials stepped back from the policy. Global markets responded immediately to the reserve release plan, pushing oil prices lower.

   What is confirmed

   • G7 nations agreed to release 100 million barrels of oil and diesel reserves through the International Energy Agency.
   • Donald Trump stated that Europe agreed to release a massive amount of diesel oil from stockpiles.
   • Oil prices moved lower following the fuel release plan.
   • Donald Trump admitted the administration was never going to ban U.S. exports of diesel fuel after previously threatening to do so.

   Still unconfirmed

   • European officials described the White House demand for more diesel as blackmail.

   What to watch next

   • Implementation and timeline of the 100 million barrel reserve release through the International Energy Agency.
   • Further developments in UK-US talks regarding diesel export policies.
   Sources used for this update (13)

   1. www.bbc.com — UK tries to stop Trump's diesel export ban - BBC
   2. nytimes.com — U.S. and Allies Agree to Release Diesel Reserves as Prices Soar
   3. CBS News — Trump says Europe has agreed to release "massive amount" of diesel oil from stockpiles
   4. AP News — G7 nations agree to release 100 million barrels of oil, including diesel, a boost for Trump
   5. Politico — ‘Blackmail’: Europe fumes against White House demand for more diesel
   6. WSJ — G-7 Agrees to Release 100 Million Barrels of Diesel and Crude
   7. WSJ — Oil Prices Lower On G-7 Fuel Release Plan
   8. Bloomberg.com — Trump Says Europe to Release ‘Massive Amount’ of Diesel Fuel
   9. Reuters — G7 to release 100 million barrels of diesel and other reserves through IEA
   10. KCRA — Trump touts G7 plan to release oil and diesel reserves to address high prices
   11. Fortune — After threatening to ban U.S. exports of diesel fuel, Trump admits 'we were never going to do it'
   12. www.yahoo.com — Senior Trump administration officials met to discuss Iran war at Camp David
   confidence 95%