U.S. Threatens Diesel Export Ban Unless Europe Releases Stockpiles

The U.S. Administration has urged Germany and France, Europe’s largest economies that hold a sizeable chunk of the EU’s emergency reserves, to release diesel from emergency stockpiles or face a potential U.S. diesel export ban, sources close to the discussions told Reuters on Thursday. Since crude oil prices jumped again in September to above $100 per barrel and the global fuel markets, especially for diesel, continued to tighten, diesel prices hit record highs in many countries, including in the United States. The U.S. Administration…