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US signals possible diesel export ban and urges Europe to release reserves
The US exports about 1.2 million to 1.5 million barrels per day of diesel, and officials warn a cutoff could add to international price pressure.
BBC Business reports that President Donald Trump has said he may ask European countries to release diesel reserves as he considers a ban on US diesel exports amid a global shortage.
The outlet says the comments followed remarks from Treasury Secretary Scott Bessent urging Europe to immediately ready and release supplies, with the administration arguing that US farmers, truckers, and businesses should not bear the burden as prices rise.
BBC Business also reports that Britain held talks with European partners about a potential release of diesel reserves in response to any ban, and that the US has threatened to restrict exports amid surging costs tied to the war in Iran.
The article says the US is a key diesel supplier, exporting between 1.2 million and 1.5 million barrels per day, and experts warn that restricting shipments abroad could further pressure prices in other countries.