IEA to accelerate diesel stock release
The International Energy Agency agreed to release over 20 million barrels of diesel to help cool soaring fuel prices. Members will also accelerate remaining volumes from a March emergency reserves pledge. Prices ticked higher amid market disappointment over the volume.
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The International Energy Agency agreed on Thursday afternoon to release over 20 million barrels of diesel to cool soaring fuel prices. The decision accelerates the remainder of a record emergency reserve commitment made earlier in the year. The move comes as United States President Donald Trump pressures European allies to expand stock releases or face potential export restrictions.
