WASHINGTON-(Maravi Post)-The United States is pressing European countries to release emergency diesel reserves as the war involving Iran continues to disrupt global fuel supplies and push prices higher.
Al Jazeera reported on Friday that the European Union had rejected the US demand, while European governments considered possible measures to ease pressure on fuel markets amid growing concerns over shortages.
US officials are urging European countries, including Germany and France, to release about 100 million barrels of diesel from emergency reserves.
France has proposed releasing 50 million barrels of diesel alongside another 50 million barrels of crude oil from International Energy Agency members, according to the report.
US President Donald Trump said Europe had agreed to a “massive” release of diesel, although the European Union has disputed the US position and said it “fully rejects” Washington’s threat to restrict diesel exports.
The dispute comes as fuel prices rise in the United States and other markets following major disruptions to global oil supplies linked to the Iran war.
US officials argue that increasing diesel supplies could help bring down prices because the fuel is essential for trucking, agriculture, construction and other parts of the economy.
In Europe, officials are also discussing possible emergency measures.
French President Emmanuel Macron is expected to chair a G7 leaders’ video conference to discuss global supplies of crude oil and refined petroleum products.
European Union ambassadors are also due to discuss the global energy situation, with officials warning that the diesel market remains tight and prices are affecting consumers worldwide.
The United Kingdom has separately said there is currently no immediate cause for concern over energy supplies.
However, the country remains exposed to disruptions because it imports a significant share of its diesel.
Meanwhile, fighting linked to the wider regional conflict has intensified in Yemen.
Government forces have reported air attacks against Houthi positions in Sanaa and the Taiz governorate.
Clashes involving artillery, tanks and machine guns have also been reported in parts of Taiz.
The developments underline the wider economic and security effects of the Iran war.
Governments are facing pressure to protect fuel supplies while responding to escalating military tensions across the Middle East.
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