⚡️🇺🇸🇪🇺 — The Trump administration intensified pressure on European allies to release diesel from emergency stockpiles, arguing that additional supplies could increase global availability and contain prices. US diesel averaged $6.38 per gallon on Thursday, up 70% since the war with Iran began, according to AAA. Treasury Secretary Scott Bessent urged Europe to «accelerate delivery on their existing commitments and make additional supplies immediately available» to address energy-market disruptions, while President Donald Trump said the US «may» ask Europe to release emergency reserves. Energy Secretary Chris Wright had predicted new European supplies would «meaningfully push diesel prices down», but no such announcements had materialized by Thursday evening. — NBC

US Trade Representative Jamieson Greer said he raised the issue at the G20 trade ministers meeting in Milwaukee but indicated that no firm commitments had been secured, adding that Washington would welcome «a collaborative response» to the global diesel shortage. European Commission energy spokesperson Anna-Kaisa Itkonen said the EU was in close contact with member states and maintaining high-level contacts with Washington; most European emergency diesel reserves are held in Germany and France.

➡️ Diesel prices have outpaced crude oil and gasoline since July, with supply disruptions cited as the main driver. Russia, traditionally a major diesel exporter, halted exports after Ukrainian drone strikes destroyed refineries; Moscow banned diesel exports on July 8 to preserve domestic supply and extended the measure through the end of October on Wednesday. Wright said diesel exports had also been lost from the Middle East, although some were being restored, and from China.

➡️ Trump said Wednesday that he was considering a US diesel-export ban, which he said could lower domestic diesel prices but increase the cost of other goods, while warning that such a move would particularly affect European countries. US gasoline prices remained almost 50% above their February 28 level, when the US and Israel attacked Iran.

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