00:00The Trump administration is ramping up pressure on Europe to release diesel stockpiles as Washington considers export restrictions on the
00:09field.
00:10U.S. Trade Representative Jameson Greer says Europe has reserves it should put on the market.
00:16Diesel prices have hit an all-time high as the war in Iran and attacks on Russian refineries disrupt supplies,
00:24with low stockpiles adding to the squeeze.
00:27We know that France, Germany and Italy, they're sitting on reserves.
00:32I think, I won't put words in their mouth of course, but I think they would love to have a
00:36cooperative path forward with the United States on how we get more diesel to market.
00:42Getting some of that diesel that's in the reserves is part of that equation.
00:45U.S. President Donald Trump says he would support a ban on diesel exports as soaring fuel prices hit American
00:52drivers ahead of the midterm elections in November.
00:56Keeping more diesel at home could lower prices in the U.S., but squeeze supplies and push prices higher elsewhere.
01:03We just want to make sure that American workers and farmers are getting the diesel they need at a price
01:08that they can manage, and part of that is getting those supplies to market.
01:12Reuters reported that EU governments are discussing to release 50 million barrels of diesel under a French proposal amid the
01:20pressure from the Trump administration.
01:21Members of the International Energy Agency could also release 50 million barrels of crude oil, but Europe wants assurances that
01:30Washington will keep U.S. diesel exports flowing.
01:32Reuters programing.
01:34Reuters
Comments