Sources said the IEA and EU on Wednesday discussed a proposal to release crude
oil and diesel inventories, likely including volumes pledged in March. Supply
disruptions tied to Iran tensions and the war in Ukraine have damaged refineries
and tanker routes, pushing diesel to record highs and adding to inflationary
pressure and costs for trucking and agriculture. The G7 last Friday agreed a 100
mln-barrel release; US president Trump warned he could ban US diesel exports if
the G7 did not release more diesel. It remains unclear how much diesel versus
crude would be released; IEA member states and the EU oil coordination group met
Wednesday to discuss the plan.
