G7 to Release Up to 100 Million Barrels of Diesel, Crude

G7 to Release Up to 100 Million Barrels of Diesel, Crude Benoit Berthelot and John Ainger The Group of Seven nations and its partners plan to release as much as 100 million barrels of emergency oil and diesel stocks, capping a week of mounting pressure from the Trump administration to bring down soaring fuel prices. The release, coordinated by the International Energy Agency, will take place over the next four months, with an initial focus on diesel, French President Emmanuel Macron said on Friday. The move is intended to “send a clear signal to the markets,” he said.

European diesel prices and Brent crude futures slumped after the news. The announcement left key questions unanswered, with a G7 statement giving no breakdown of how much crude and diesel would be released or how much of the total represented new commitments rather than previously pledged supplies. The deal followed a US threat to restrict diesel exports unless European countries made more fuel available.

Such a move would threaten an essential source of supply for a continent heavily reliant on imports. Diesel is crucial for transportation, farming and industry, and prices have surged as the wars in Iran and Ukraine disrupt supplies. The soaring cost has become a political concern for President Donald Trump ahead of November’s US midterm elections.

The IEA already coordinated a 400 million-barrel reserve release in March soon after the Iran war broke out, but Trump has criticized Europe for not making those barrels available quickly enough. The pressure intensified this week, prompting emergency talks among European officials on Thursday as the European Union sought a coordinated response to Washington’s demands. About a third of the original release had yet to reach the market, IEA Executive Director Fatih Birol said Tuesday.

As of that day, Germany had yet to release about 77% of its pledged stocks, while Spain had made available only about a third of its commitment. The US, by contrast, approved another 40 million barrels from its Strategic Petroleum Reserve this week, completing its contribution to the March agreement. The latest release will include barrels pledged but not yet made available under the March agreement, according to people familiar with the matter.

The plan envisages a “substantial” release of diesel stocks within 20 days, while the IEA will discuss additional diesel releases if necessary, according to a G7 statement."We have all committed together to releasing these strategic reserves in the proportions I mentioned, with a focus on diesel," said Macron, the current chair of the G7. "We are all committed to ensuring there are no export bans, and President Trump, in particular, was very clear on this point."Trump said in a social media post on Friday that he welcomed the latest action."Europe has just agreed to release a massive amount of their heavily stocked Diesel Oil," Trump said. "The process will begin immediately."At a meeting on Friday, EU ambassadors discussed backing the release on two conditions: that it wouldn’t jeopardize strategic reserves and that the US would commit to avoiding energy-export bans, according to a person familiar with the matter, who requested anonymity because the conversations are private. European diesel’s premium over crude oil, a closely watched measure of market strength, slumped as low as $69 a barrel, down from $76.77 on Thursday, fair-value data compiled by Bloomberg show. The prospect of additional diesel supplies has hit European refining margins particularly hard, with margins falling about 10%, compared with roughly 5% in the US, according to Rebecca Babin, senior energy trader at CIBC Private Wealth Group.

Reduced European demand for imported diesel could also weigh on US exports and margins, while additional supplies may curb refiners’ demand for crude, she said."It can shift some US exports into other markets or back home," said Joe De Laura, global energy strategist at Rabobank. "It’s a short ter...

G7将释放最高1亿桶柴油和原油 Benoit Berthelot and John Ainger G7国家及其合作伙伴计划释放最高1亿桶应急石油和柴油储备，以压低飙升的燃油价格。此举在特朗普政府连续一周施压后进行。国际能源署将协调此次释放，将在未来四个月内进行，首批重点释放柴油。法国总统埃马纽埃尔·马克龙周五表示，此举旨在向市场"发出明确信号”。消息公布后，欧洲柴油价格和布伦特原油期货均出现下跌。此次公告留下了关键问题未解答，G7声明未说明将释放多少原油和柴油，或其中有多少是新承诺而非此前已承诺的供应。此举紧随美国威胁除非欧洲国家提供更多燃油就限制柴油出口。此类举措将威胁欧洲 heavily 依赖进口的必需供应来源。柴油对交通、农业和工业至关重要，随着伊朗和乌克兰战争扰动供应，价格已飙升。燃料成本飙升已成为唐纳德·特朗

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• 特朗普总统在大选前夕的政治担忧。国际能源署（IEA）早在3月份就在伊朗战争爆出后协调了4亿桶储备释放，但特朗普批评欧洲未能及时使出那些桶装石油。本次释放将包括在3月份协议中承诺但尚未投放的桶装石油。 截至周二，德国尚未释放其承诺储备的约77%，而西班牙仅释放了其承诺的三分之一。相比之下，美国本周批准了来自其战略石油储备的再4000万桶。最新的释放将包括在3月份协议中承诺但尚未投放的桶装石油，据知情人士称。马克龙周五表示：“我们都承诺一起释放这些战略储备，比例我刚才提到的那样。我们都承诺确保没有能源出口禁运，特朗普总统尤其明确了这一点。”特朗普周五在社交媒体帖子中表示欢迎最新行动。 "Europe has just agreed to release a massive amount of their heavily stocked Diesel Oil," he said. "The process will begin immediately." 在周五的一次会议上，欧盟大使讨论了支持此次释放的两个条件：一是不会危及战略储备，二是美国将承诺避免能源出口禁运，据知情人士称，该人士因对话私密性而要求匿名。 欧洲柴油相对于原油的溢价，这是一个关于“G7将释放出最高1亿桶柴油和原油，以压低燃油价格。” 朗普在社交媒体上表示欢迎最新行动。 "Europe has just agreed to release a massive amount of their heavily stocked Diesel Oil