Trump rules out US diesel export ban after Europe agrees to release fuel stocks
President Donald Trump said Friday that the United States would not ban diesel exports after Europe agreed to tap stockpiles.
Trump had threatened to restrict exports to lower US diesel prices ahead of November’s midterm elections and had pressed European countries to tap their own stockpiles. The European Union initially rejected the threat, according to France24, while European governments discussed a coordinated reserve release. Trump later said Europe would make a “major world contribution” and claimed credit for the planned release.
The dispute came as the US-led war on Iran constrained supplies of crude oil and refined fuels, adding to disruptions linked to sanctions on Russia and Ukrainian attacks on Russian refining capacity. The United States exports about 1.2 million to 1.5 million barrels of diesel a day, according to the BBC. …