G7 agrees to release up to 100 million barrels of reserves after Trump's diesel export threat

Summary

After President Donald Trump threatened to ban diesel exports to ease prices in the US, Britain held talks with European partners over releasing emergency diesel reserves, and Energy Secretary Miatta Fahnbulleh was in direct contact with US Energy Secretary Chris Wright, City AM reported. On 2 October G7 leaders agreed to release 'up to 100 million barrels' of petroleum reserves, a coordinated release aimed at heading off further price spikes and avoiding a ban on US diesel exports, according to the BBC; French President Emmanuel Macron said they agreed to work to help bring down the prices of petroleum products, particularly diesel, and Foreign Secretary Ed Miliband said he hoped it would 'shield households and businesses from price shocks'. Trump then claimed a diesel export ban was 'never on table', although he had repeatedly said in recent weeks that a block on US supplies was being considered.

Latest: Trump claimed a diesel export ban was 'never on table' as the G7 agreed the reserve release, although he had repeatedly said in recent weeks that a block on US supplies was being considered.

Written automatically by an AI from the articles' headlines and descriptions. It can contain errors: follow the links to read the articles.