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Trump says Europe agrees to release diesel reserves
President made comment on social media as fuel prices hover near record highs
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President Donald Trump arrives on Marine One on the South Lawn of the White House Oct. 2. (Rod Lamkey Jr./AP)
Key Takeaways:
- President Donald Trump said Oct. 2 that Europe has agreed to release some of its diesel reserves “immediately,” as the president and his Republican Party face pressure to address surging prices ahead of November’s midterm elections. Trump an
- The announcement comes as Trump and Republicans face political pressure before November midterm elections amid higher energy costs linked to the Iran conflict and trade disputes.
- Trump did not identify participating countries or release volumes, leaving details of the reserve release unclear.
WASHINGTON — President Donald Trump said Oct. 2 that Europe has agreed to release some of its diesel reserves “immediately,” as the president and his Republican Party face pressure to address surging prices ahead of November’s midterm elections.
Trump announced the action Oct. 2 on social media without offering details on which countries were releasing reserves or at what volumes.
READ MORE: G7 to release up to 100 million barrels of diesel, crude
Trump writes, “Europe has just agreed to release a massive amount of their heavily stocked Diesel Oil.” Trump says, “The process will begin immediately.”
The president faces lagging approval ratings as the Iran war and his trade battles have increased U.S. prices for oil and other goods.
