G7 to release up to 100 million barrels of oil, diesel from reserves
According to Eurostat’s June 2026 data, European Union countries and the United Kingdom held about 52 million tonnes of gas, oil and diesel stocks.
Mr Trump has recently pressured European countries, particularly Germany and France, to release their diesel stockpiles to ease soaring energy prices caused by disruptions to shipping traffic in the Strait of Hormuz.
Mr Trump had previously threatened to ban US diesel exports if European countries failed to release their stockpiles.
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