G7 to release 100 million barrels of oil and diesel after Trump export ban threat
The coordinated release is aimed at heading off further price spikes and avoiding a ban on US diesel exports.
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The coordinated release is aimed at heading off further price spikes and avoiding a ban on US diesel exports.
Skyrocketing diesel prices have pushed Washington to weigh an export ban, raising alarm across European economies.
Diesel prices outside the US surged relative to American ones as the possibility of the Trump Administration introducing an export ban rattled the market.
Withholding shipments could result in global economic damage โ and potentially even higher prices in America.