Reporting from The Center Square
Under U.S. pressure, G7 nations agree to release fuel reserves
(The Center Square) – The Group of Seven nations agreed Friday to release 100 million barrels of oil and fuel products over four months, beginning with substantial diesel releases within the first 20 days, according to a joint statement."Europe has just agreed to release a massive amount of their heavily stocked Diesel Oil. The process will begin immediately," President Donald Trump posted on Truth Social.G7 nations did not specify how the 100 million barrels would be divided among crude oil, diesel and other fuels, nor did they confirm which countries would participate. The statement also outlined plans for discussions through the International Energy Agency."We will convene in the context of the IEA in the coming days to discuss the possibility of additional diesel releases as necessary," the G7 nations said in a statement.Higher U.S. diesel prices are driving up costs for farmers in this year’s fall harvest, potentially increasing inflation at the nation’s grocery stores. Earlier this week, Iowa Sen. Chuck Grassley called on the president to place an embargo on U.S. diesel exports, arguing that rising fuel and transportation costs are "killing farmers' income."The G7 announcemen
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